Given:
Original price = $160
New price = $88
To find the percentage decrease, use the formula below:
[tex]\text{Percentage decrease=}\frac{Old\text{ price - New price}}{Old\text{ price}}\times\frac{100}{1}[/tex]Thus, we have:
[tex]\begin{gathered} Percentage\text{ decrease=}\frac{160-88}{160}\times\frac{100}{1} \\ \\ \text{Percentage decrease = }\frac{72}{160}\times\frac{100}{1} \\ \\ \text{Percentage decrease = }0.45\times100\text{ = 45\%} \end{gathered}[/tex]Therefore, the percentage decrease is 45%
ANSWER:
45%
