SOLUTION: An item that was selling for $72 is reduced to $60. What is the percent decrease in price? Can you show me how to do this?

Question 850572: An item that was selling for $72 is reduced to $60. What is the percent decrease in price? Can you show me how to do this?
Answer by 1335(25) (Show Source): You can put this solution on YOUR website!
Start by finding the difference between the two numbers: (72-60=12) $12
Now work backwards to find what percent of 72 is 12.
.x(72)=12
Multiply by 10 to get rid of decimal: 72x=120
Divide both sides and convert to a percentage: x=16 and 2/3 percent
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