I have a product that is $995 and a product that is $699. How can I figure out what percent cheaper it is. What formula do I use?
2006-11-03 02:05:15 · 8 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics
955-699=256
256/955*100=26.81%
so $699 is 26.81% cheaper than $995
2006-11-03 02:09:21 · answer #1 · answered by raj 7 · 0⤊ 0⤋
In dealing with percentages, keep in mind that they are not equal in both directions. For example:
using $995 and $699, we see a difference of $296
$296 will be a different percentage of $995 than it will of $699, so we could say that $699 is 29.75% less than $995, but...
this does not mean $995 is 29.75% higher than $699! In fact, it is 42.35% more!
This is because the same number is a larger percentage of a smaller number, and a smaller percentage of a higher number.
Since your question asks what percent CHEAPER the price is, this implies the percentage is based on the higher price.
so, the formula for determining a percentage discount is:
(P1 - P2)/P1 = D
where P1 = initial (top) price, P2 = second (discount) price, and D = percentage of discount
Convesely, if you need to determine what percentage an increase is, the formula is very similar:
(P1-P2)/P2 = I where I = percentage of increase
Best of luck!
2006-11-03 11:57:31 · answer #2 · answered by disposable_hero_too 6 · 0⤊ 0⤋
The cheaper article is $995 - $699 = $296 cheaper.
296/995 x 100 = 29.75% i.e.
difference over larger amount multiplied by one hundred.
2006-11-03 10:38:07 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Get the difference between the two and divide it by the larger amount.
995 - 699 = 296.
296/995 = 0.29748 = 29.75%
2006-11-03 10:11:05 · answer #4 · answered by Anonymous · 0⤊ 0⤋
699 / 995 = 70%
995- 699 = 296
296 / 995 = 29.7%
2006-11-03 10:15:21 · answer #5 · answered by bkbarile 5 · 0⤊ 0⤋
$699 is cheaper than $995 by $296
In % form, it is cheaper by 296/699 x100 = 42.35%
Formula:
If lower(earlier) is y, higher(later) is x,
Then % change is [(x-y)/y] x 100
Or {(x/y)-1}100
PS: Adjustments:
I am inclined to agree with the other answerers for being more logical. On the strength of that, I wish to adjust my answer as follows:
1. For % Cheaper:
(absolute price difference divided by higher price)x100
i.e. 296/995 x100 = 29.75%
Formula is: [(p2-p1)/p2]100 or [1-(p1/p2)]100
where p1 is lower price, p2 is higher price.
2. For % Dearer:
296/699 x100 = 42.35%
Formula: [(p2-p1)/p1]100 or [(p2/p1)-1]100
where p1 is lower price, p2 is higher price.
Thanks.
2006-11-03 12:48:51 · answer #6 · answered by peaceman 4 · 0⤊ 0⤋
(1-699/995)*100%=29.75%
2006-11-03 15:32:12 · answer #7 · answered by yupchagee 7 · 0⤊ 0⤋
divide the lower # by the higher #
2006-11-03 10:09:31 · answer #8 · answered by Tired Old Man 7 · 0⤊ 0⤋