In the good old days (1986), the U.S. dollar was worth 1.85 Swiss Francs. Over two decades later in 2012, the dollar was worth 0.91 Swiss Francs. The value of the dollar in Swiss Francs went down by about
A) 49%.
B) 51%.
C) 94%.
D) 203%.
E) Can't tell without knowing the CPI for 1986.

Question

Quizplus · Accepted Answer

To find the percentage change, we can use the formula:

Percentage change = [(new value - old value) / old value] x 100%

Plugging in the values:

Percentage change = [(0.91 - 1.85) / 1.85] x 100%
Percentage change = (-0.94 / 1.85) x 100%
Percentage change = -0.51 x 100%
Percentage change = -51%

So the value of the dollar in Swiss Francs went down by 51%. Therefore, the correct answer is B.

In the Good Old Days (1986), the U