SOLUTION: 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?

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Question 86349: 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?
Answer by venugopalramana(3286) About Me  (Show Source):
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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?
ORGL=12000
AFTER 1 YEAR =10920
DECREASE = 12000-10920=1080
RATE OF DECREASE =1080/10920 = 0.0989...OR....9.89%