Question

The next model of a sports car will cost 3.7% less than the current model. The current model cost $55,000. How much will the price decrease in dollars? What will be the price of the next model?

Answer 1

Compared to the price of the current model sports, the next model price will be 3.7% less.

The cost of the current model sports car is $55,000.

Therefore, the price will decrease in the next model by

`\frac{\text{ \$55000}*3.7}{100}=\text{ \$2035}`

Hence, the decreased price in dollars is $2035.

Now, the price of the next model will be

`\text{ \$55000-\$2035=\$52,965}`

Hence, the price of the next model is $52,965.