There is decrease of 35% in the price of silver in the past 6 months.
Solution:
Given that
Price of silver went from $26.40 a troy ounce down to $17.16 a troy ounce during past 6 months need to represent this decrease in percentage
Price of silver before 6 months = initial price = $26.40
Price of silver now = current price = $17.16
Difference in price in 6 months = 26.40 – 17.16 = $9.24
[tex]\text { Decrease in percentage }=\frac{\text { Diffrence in } 6 \text { months }}{\text { Initial price }} \times 100[/tex]
[tex]\begin{array}{l}{=\frac{9.24}{26.4} \times 100} \\\\ {=0.35 \times 100=35 \%}\end{array}[/tex]
Hence there is decrease of 35% in the price of silver in the past 6 months.
