What is the percent of change for a $24 shirt that is now selling for $20?

To determine the percent of change from the original price of the shirt to the new price, you first need to find the amount of change and then divide that by the original price, finally multiplying by 100 to convert it into a percentage.

The original price of the shirt is $24 and the new price is $20. The change in price is calculated as follows:

Change in price = Original price - New price

Change in price = $24 - $20 = $4

Next, to find the percent change, you can use the formula:

Percent change = (Change in price / Original price) × 100

Substituting the values we have:

Percent change = ($4 / $24) × 100

Percent change = (1/6) × 100

Percent change = 16.66...%

This can be written as 16 2/3 percent, which precisely matches the correct answer choice. This answer accurately represents the reduction in price relative to the original cost of the shirt.