Question

A car bought $52,000 and sold for $42,000. The percentage lost is?

A.19%

B.25%

C.29%

D. 20%

Answer 1

Calculate the difference between purchase and sales costs:

$52,000 - $42,000 = $10,000

Calculate what fraction of $52,000 is $10,000:

$\dfrac{\ 10,000}{\ 52,000}=\dfrac{10}{52}=\dfrac{5}{26}$

Transform it to the percent:

$\dfrac{5}{26}=\dfrac{5}{26}\cdot100\%=\dfrac{500}{26}\%\approx19\%$

Answer: A. 19%