Answer
The percentage change for the price of the access code is -20%.
The price of the access code falls by 20%.
Work Step by Step
To find the percentage change, we use the following formula:
percentage change = $\frac{New\ amount\ -\ Original\ amount}{Original\ amount}$ $\times$ 100%
The original price of the access code was 60 dollars. The new price became 48 dollars. We substitute these values in the formula to obtain:
percentage change = $\frac{48\ -\ 60}{60}$ $\times$ 100%
percentage change = $\frac{-12}{60}$ $\times$ 100%
percentage change = -0.2 $\times$ 100%
percentage change = -20%
Because the percentage change is a negative number, it is a percent decrease.
