Question

A car depreciated by 25% during the first year. If the car was purchased for $28,000, what is the car worth today?

Answer 1

$21,000 because 25% of 28,000 is 7,000. So subtract 7,000 from 28,000 to get 21,000.

Answer 2

28000(100-25)/100

28000(75/100)

28000(0.75)

$21000