Question

Find the new price of an item that originally cost $15,000 and has a percent of decrease of 5 %.

Answer 1

original price represents 100%. so 100% = $15,000.
price drop of 5% means the price is now 95% of the original.
so you can either find 95% of $15,000 and that would be your answer,
or, you can find 5% of $15,000 and then subtract that from $15,000 to get the answer.

Answer 2

@Luis - the question states that the original price is $15,000 - not the decreased price. and decreasing by 5% will give you 95% not 85% (i.e. 0.95 not 0.85).

Answer 3

There are two ways to solve this problem:

1) (0.95)(15,000)=$14,250

2) $15,000-(0.05)(15,000)=$15,000-750=$14,250