Question
Iphones cost \( \$ 800 \) in 2020. In 2022, it cost \( \$ 750 \).
Ask by Huff Salinas. in the United States
Mar 09,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
The price of the iPhone decreased by 6.25% from 2020 to 2022.
Solution
Let the price in 2020 be \( P_{2020} = \$800 \) and the price in 2022 be \( P_{2022} = \$750 \).
1. **Find the difference in price:**
\[
\text{Difference} = P_{2020} - P_{2022} = \$800 - \$750 = \$50
\]
2. **Calculate the percentage decrease:**
The percentage decrease is given by
\[
\text{Percentage decrease} = \left(\frac{\text{Difference}}{P_{2020}}\right) \times 100 = \left(\frac{50}{800}\right) \times 100
\]
3. **Simplify the fraction:**
\[
\frac{50}{800} = \frac{1}{16} \approx 0.0625
\]
4. **Convert to percentage:**
\[
0.0625 \times 100 = 6.25\%
\]
Thus, the price of the iPhone decreased by \( 6.25\% \) from 2020 to 2022.
Answered by UpStudy AI and reviewed by a Professional Tutor
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Did you know that smartphone prices can fluctuate significantly due to factors like supply chain issues or changes in technology? For instance, the production costs for materials can affect the retail price. Plus, newer models may push down the prices of older models, as seen with the iPhone. If you’re eyeing the latest iPhone, it’s worth considering waiting a bit after a new release. Pricing often dips as competition heats up or new models hit the shelves, plus there's usually a chance to snag a good deal during sales events!
