A product's price decreased from $120 to $90. What is the percentage decrease in the price?

1. Break Down the Problem

To find the percentage decrease, we need to calculate the difference between the original price and the new price, then divide that difference by the original price, and finally multiply by 100 to convert it to a percentage.

2. Relevant Concepts

The formula for percentage decrease is: $\text{Percentage Decrease} = \left( \frac{\text{Original Price} - \text{New Price}}{\text{Original Price}} \right) \times 100$

3. Analysis and Detail

1. Identify the original and new prices:

   • Original Price = $120
   • New Price = $90

2. Calculate the decrease in price: $\text{Decrease} = \text{Original Price} - \text{New Price} = 120 - 90 = 30$

3. Calculate the percentage decrease: $\text{Percentage Decrease} = \left( \frac{30}{120} \right) \times 100$

4. Verify and Summarize

1. Calculate $\frac{30}{120}$: $\frac{30}{120} = 0.25$

2. Now multiply by 100: $0.25 \times 100 = 25$

Final Answer

The percentage decrease in the price is 25%.