The price of a TV was ₹55,000 last year, and this year it is ₹42,500. Find the percentage decrease in price. (Rounded up to two decimal places)

Correct option is A

Given:

Last year’s price = ₹55,000

This year’s price = ₹42,500

Formula Used:

Percentage Decrease = $$\frac{\text{Old Price} - \text{New Price}}{\text{Old Price}} \times 100$$​​

Solution:

Percentage Decrease = $$\frac{55000 - 42500}{55000} \times 100$$​​

​$$= \frac{12500}{55000} \times 100$$​​

​$$= 22.7272\% \approx 22.73\%$$​​