SOLUTION: I submitted this quite a few days ago and I thought I would resubmit it just in case I messed up or something. Solve the following application. Business and finance. The electric

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Question 72448: I submitted this quite a few days ago and I thought I would resubmit it just in case I messed up or something.
Solve the following application.
Business and finance. The electricity costs of a business decreased from $12,000 one year to $10,920 the next. What is the rate of decrease?
This is what I have done so far.
12,000-10920=1080
Now I need to find the rate at which it decreased.
I am lost please help?
Answer by Edwin McCravy(20056)   (Show Source): You can put this solution on YOUR website!
I submitted this quite a few days ago and I thought I would resubmit it 
just in case I messed up or something.
Solve the following application.
Business and finance. The electricity costs of a business decreased from
$12,000 one year to $10,920 the next. What is the rate of decrease?
This is what I have done so far.
12,000-10920=1080
Now I need to find the rate at which it decreased.
I am lost please help?

To find the rate of increase or decrease, divide the amount of increase
or decrease by the OLD amount.

The decrease was $1080.  The old amount was $12,000 so

1080 ÷ 12000 = .09 = 9% decrease

Edwin
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