the decrease is 16.22%
Explanation
Step 1
you can easily solve and understand this by using a rule of three
Let x represents the new percent
if
[tex]111\Rightarrow100\text{ \%}[/tex]then
[tex]93\Rightarrow x[/tex]as the proportion is the same
[tex]\begin{gathered} \frac{111}{100}=\frac{93}{x} \\ \text{cross multiply} \\ 111x=93\cdot100 \\ \text{divide both sides by 111} \\ \frac{111x}{111}=\frac{9300}{111} \\ x=83.78 \end{gathered}[/tex]so, $93 is 83.78% of the original price
it means the percent decrease is
[tex]\begin{gathered} \text{Decrease}=\text{original-new} \\ \text{Decrease}=100\text{ -83.78} \\ \text{Decrease}=16.22 \end{gathered}[/tex]Hence, the decrease is 16.22%.
I hope this helps you
