Question

Two years ago a car was valued $24,00. this year the value of the car is $23,160.what was the percentage decrease in the value of the car.

Answer 1

3.6% decrease

Explanation:

Initial value = $24000

Final value = $23160

We apply percentage decrease formula:

$\text{ \% decrease = }\frac{\text{initial - final}}{Initial}$$\begin{gathered} \text{ \% decrease = }\frac{24000\text{ - 23160}}{23160}\times100 \\ \text{ \% decrease = }\frac{840}{23160}\times100 \\ \text{ \% decrease = }0.036\text{ }\times100 \end{gathered}$$\text{ \% decrease = 3.6\% decrease}$