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20 November, 10:01

During the financial crisis of 2008, the price of a barrel of Brent crude oil fell a high of $140 per barrel to around $50 per barrel. What is the percent decrease in the price of oil that occurred during this period.

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  1. 20 November, 10:11
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    decrease of 64.3%

    Step-by-step explanation:

    Percentage change can be calculated from ...

    pct change = ((new value) / (original value) - 1) * 100%

    = (50/140 - 1) * 100%

    = (-9/14) * 100% = - 64 2/7% ≈ - 64.3%

    The price of crude fell about 64.3% in that period.
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