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The price of petrol decreases from £1.32 per litre to £1.02 per litre - OCR - GCSE Maths - Question 20 - 2023 - Paper 1

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The price of petrol decreases from £1.32 per litre to £1.02 per litre. Calculate the percentage decrease in the price.

Worked Solution & Example Answer:The price of petrol decreases from £1.32 per litre to £1.02 per litre - OCR - GCSE Maths - Question 20 - 2023 - Paper 1

Step 1

Calculate the decrease in price

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Answer

To find the decrease in price, subtract the new price from the old price:

Decrease in price = Old Price - New Price Decrease in price = £1.32 - £1.02 = £0.30

Step 2

Calculate the percentage decrease

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Answer

Next, to calculate the percentage decrease, use the formula:

[ \text{Percentage Decrease} = \left( \frac{\text{Decrease in Price}}{\text{Old Price}} \right) \times 100 ]
Substituting the values: [ \text{Percentage Decrease} = \left( \frac{0.30}{1.32} \right) \times 100 \approx 22.73% ]

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