Question

A car depreciated (decreased in value) by 25% during the first year. If the car was purchased for $28,000, what is the car worth today

Show your work

Answer 1

$21,000

Explanation:

The cost of car=$ 28,000

A car is depreciated by 25%

Now, the price of car=$28000(1-)
`(25)/(100)`

The price of the car= $28000(
`(100-25)/(100)`)

The price of the car= $28000(
`(75)/(100)`)

The price of the car= $280×75

The price of the car= $21,000

The car worth today $21,000

Hence the correct answer is $ 21,000