Question

As soon as a new car is purchased and driven away from the dealership, it begins to lose its value, or depreciate. Alonso bought a 1994 Plymouth Neon for $9559. One year later, the value of the car was $8500. What was the percent of decrease of the value of the car?

a) 11%
b) 10%
c) 9%
d) 8%

Answer 1

To find the percent of decrease in the value of the car, calculate the difference between the initial value and the final value, divide that difference by the initial value, and multiply the result by 100. The correct answer is 11%.

Step-by-step explanation:

To find the percent of decrease in the value of the car, we need to calculate the difference between the initial value and the final value, and then divide that difference by the initial value. Finally, multiply the result by 100 to get the percentage.

The initial value of the car is $9559 and the final value is $8500. So, the difference is $9559 - $8500 = $1059.

The percent of decrease can be calculated as (1059 / 9559) imes 100 = 11% (approximately).

Therefore, the correct answer is option a) 11%.