The percent decrease price is 57%.
Given:
Original cost is, C = 37000.
New cost is, N = 15910.
The objective is to find the percentage decrease of the price.
The formula to find the percentage decrease is,
[tex]\text{Percentage decrease=}\frac{N-C}{C}\times100[/tex]Now, substitute the given values in the above equation.
[tex]\begin{gathered} \text{Percentage decrease=}\frac{15910-37000}{37000}\times100 \\ =-\frac{21090}{37000}\times100 \\ =-0.57\times100 \\ =-57\text{ percentage} \end{gathered}[/tex]THe negative sign indicate the decrease in percentage.
Hence, the percent decrease price is 57%.
