Question

Fred decided to look at new and used cars. Fred found a used car for 22000. Fred found that he paid 55% of the price of a new car. How much would a new car cost?

Answer 1

Fred paid $22,000 for a used car, which was 55% of the price of a new car. By dividing the price he paid by 0.55, we find that the new car would cost $40,000.

Step-by-step explanation:

Fred discovered that the price of a used car he purchased, $22,000, was 55% of the cost of a new car. To find out how much a new car would cost, we need to use the following formula:

Price of used car = Percentage of new car price x Price of new car

Thus, the price of the new car can be calculated as follows:

1. Let's denote the price of the new car as 'P'.
2. We know that $22,000 = 55% of P, which can be written as $22,000 = 0.55P.
3. To find the price of the new car, divide the price of the used car by the percentage (in decimal form), which gives us P = $22,000 / 0.55.
4. Calculating this we get P = $40,000. This means a new car would cost $40,000.

Therefore, Fred would have to pay $40,000 for a new car.