Question

Cindy bought a car for $21,330. A few years later, she sold the car for $19,700. Find the percent of change in the value.

Answer 1

well, the difference is 21330 - 19700 = 1630.

now, if we take 21330 as the 100%, what is 1630 off of it in percentage?

`\bf \begin{array}{ccll} amount&\%\\ \cline{1-2} 21330&100\\ 1630&x \end{array}\implies \cfrac{21330}{1630}=\cfrac{100}{x}\implies \cfrac{2133}{163}=\cfrac{100}{x} \\\\\\ 2133x = 16300\implies x=\cfrac{16300}{2133}\implies x \approx 7.64`

Answer 2

Change in the price of the car was 7.64%

Explanation:

Cindy bought a car for $21330.

After few years she sold the car for $19700.

Net loss she suffered = Selling price - Cost price

= 21330 - 19700

= $1630

Now the percent change in the value will be =
`\frac{\text{Difference in the price}}{\text{Cost price of the car}}* 100`

=
`(1630)/(21330)* 100`

= 7.64%

Therefore, change in the price of the car was 7.64%