Question

As soon as a new car is purchased and driven away from the dealership, it begins to lose its value, or depreciate. Alonso bought a 1994 Plymouth Neon for $13500. One year later, the value of the car was $9000. What was the percent of decrease of the value of the car? (Note: Round answer to the nearest whole number percentage.)

Answer 1

Answer: 33.3%

Step-by-step explanation:

Cost price of the car = $13500

Value of car one year later = $9000

Decrease in value of car = $13500 - $9000 = $4500

The percent of decrease of the value of the car will then be:

= Decrease in value of car / Cost price × 100

= $4500 / $13500 × 100

= 1/3 × 100

= 33.3 %