Question

The next model of sports car will cost 14.5% less than the current model. The current model costs $59,000. How much will the price decrease in dollars? What will be the price of the next model?Decrease in price:Price of next model:

Answer 1

Given:

The next model will cost 14.5% less than the current model

Cost of current model = $59000

The price decrease

The price decrease can be calculated using the formula:

$Price\text{ decrease = \%decrease }\times\text{ current price}$

Substituting the given values:

$\begin{gathered} Price\text{ decrease = 14.5\% }\times\text{ 59000} \\ =\text{ \ 8555} \end{gathered}$

Answer: $8555

Price of the next model

The price of the next model would be the difference in the current price and the price decrease:

$Price\text{ of the next model = Current price - price decrease}$

Substituting we have:

$\begin{gathered} Price\text{ of the next model = 59000 - 8555} \\ =\text{ 50445} \end{gathered}$

Answer Summary

Decrease in price = $8555

Price of the next model = $50445