Question

In 1908, a Model T cost $950. By 1927, Ford had become so efficient that the car's price dropped to $280. What was the percentage decrease in price from 1908 to 1927?

Answer 1

Explanation:

In 1908, a Model T cost $950. This means that the initial price was $950. The car's price dropped to $280 in the year 1927 due to it's increased efficiency.

The decrease in price is determined by subtracting the current price in 1927 from the initial price in 1908. It becomes

950 - 280 = $670

To determine the percentage decrease in price from 1908 to 1927, we will divide the decrease in price from 1908 to 1927 by the initial price in 1908 and multiply by 100. It becomes

670/950 × 100

= 70.53%