Answer:
[tex]\% Decrease = 70\%[/tex]
Step-by-step explanation:
Given
Cost Price= 10,000
Selling Price = 3000
Required
Determine the percentage decrease
This is calculated as follows:
[tex]\% Decrease = \frac{Selling\ Price - Cost\ Price}{Selling\ Price} * -100\%[/tex]
Substitute values
[tex]\% Decrease = \frac{3000 - 10000}{10000} * -100\%[/tex]
[tex]\% Decrease = \frac{-7000}{10000} * -100\%[/tex]
[tex]\% Decrease = \frac{7000}{10000} * 100\%[/tex]
[tex]\% Decrease = 0.7* 100\%[/tex]
[tex]\% Decrease = 70\%[/tex]
