Question

Over the last 10 years, the price of corn has decreased by 25% per bushel. Assuming a steady percent decrease, by what percent does it decrease each year? Round to the nearest tenth of a percent.

Answer 1

Answer:

3%

Step-by-step explanation:

A(t)= p(1-0.25)*t

A(t)= p(1-0.25)*1/10

A(t)= p(0.75)*1/10

A(t)=0.97

97% (100%-97%=3%)

Answer 2

The cost price of corn decreases from 100% to 97.5 % each year. The yearly decrease in percentage is 2.5%.

What is a percentage?

The percentage can be defined as a value that shows the hundredth part of a number. The percentage is denoted by the sign "%".

Given that over the last 10 years, the price of corn has decreased by 25% per bushel.

Let's consider that the price of corn 10 years ago was 100%. Over 10 years,

Decrease = 25%

Price after Decrease = 75%

The decrease is 25% in 10 years. So in one year, the decrease will be

Decrease in one year = 25%/10

Decrease in one year = 2.5%

If the actual price was 100% then the new price after decrease will be

New Price = 100 % - 2.5%

New Price = 97.5%

Socc

To know more about the percentage, follow the link given below.

https://brainly.com/question/8011401.