Question

What percentage savings does a person obtain on a round-trip ticket from New York to London if he chooses to go 14- to 21-day excursion air fare as opposed to regular economy air fare?
Travel Type
Sample Round-Trip Fares
from New York to London
First-Class Air Fare
$754.30
First-Class Ship Fare
$775.20
Regular Economy Air Fare
$440.80
Tourist Class Ship Fare
$408.00
Peak Season Economy Air Fare
$526.30
Peak Season Tourist Class Ship Fare
$470.25
14- to 21-Day Excursion Air Fare
$331.00
30-Day Excursion Ship Fare
$345.95
Charter Group (25 Persons or More) Air Fare
$331.00
Charter Group (25 Persons or More) Ship Fare
$306.00

Answer 1

Answer:

24.9%

Explanation:

To be able to get the percentage of savings, we first need to calculate the absolute difference in price:

Regular Economy Air Fare  (R): $440.80

14- to 21-Day Excursion Air Fare  (E): $331.00

So, if we subtract the price of E ($331) from R ($440.80), we have an absolute difference of:

S = $440.80 - $331.00 = $109.80

Since we talk about savings, we have to compare that absolute difference to the higher price:

P = $109.80 / $440.80 = 0.249

So, that person would save 24.9%