Question

A car bought $52,000 and sold for $42,000. The percentage lost is?

A.19%

B.25%

C.29%

D. 20%

Answer 1

Calculate the difference between purchase and sales costs:

$52,000 - $42,000 = $10,000

Calculate what fraction of $52,000 is $10,000:

`(\$10,000)/(\$52,000)=(10)/(52)=(5)/(26)`

Transform it to the percent:

`(5)/(26)=(5)/(26)\cdot100\%=(500)/(26)\%\approx19\%`

Answer: A. 19%