SOLUTION: The electricity costs of a business decreased from $12,000 one year to 10,920 the next. What is the rate of the decrease?

Algebra ->  Customizable Word Problem Solvers  -> Evaluation -> SOLUTION: The electricity costs of a business decreased from $12,000 one year to 10,920 the next. What is the rate of the decrease?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 67885: The electricity costs of a business decreased from $12,000 one year to 10,920 the next. What is the rate of the decrease?
Answer by tutorcecilia(2152) About Me  (Show Source):
You can put this solution on YOUR website!
(Old cost)+(New cost)/(old cost) X 100% = discount
($12,000+$10,920)/$12,000 X 100% = 9%
.
Check:
$12,000(.09)=1080
$12,000-$1080=$10,920