Answer:
The percent of change is -60%.
Step-by-step explanation:
To find the percentage of change, we find the percentage of the final value, considering the initial valuie is 100%, and then we subtract 100% by the percengate found.
In this question:
Initial price of $3.25 per gallon, which is 100% = 1.
Final value of $1.30, which is x. So
$3.25 - 1
$1.30 - x
[tex]3.25x = 1.30[/tex]
[tex]x = \frac{1.30}{3.25}[/tex]
[tex]x = 0.4[/tex]
The initial value of 0.4 = 40% of the initial value.
So the percent of change is a decrease of 100% - 40% = 60%, that is, -60%.
