Final answer:
The man experienced a 38 percent loss on his car after selling it to the junk dealer, calculated by subtracting the selling price from the original value, dividing by the original value, and multiplying by 100.
Step-by-step explanation:
To calculate the percentage loss incurred by the man when selling his car to the junk dealer, we follow a straightforward formula that involves determining the difference between the original value and the sale price, expressing it as a fraction of the original value, and then converting it to a percentage.
1. **Calculate the Difference in Value:**
- Original Value: $1,800
- Sale Price: $1,116
The difference = $1,800 - $1,116 = $684
2. **Express the Difference as a Fraction of the Original Value:**
- $\frac{Difference}{Original Value} = \frac{684}{1800} \approx 0.38$
3. **Convert the Fraction to a Percentage:**
- $0.38 \times 100 = 38\%$
Therefore, the man incurred a 38% loss on his car when selling it to the junk dealer. This percentage represents the proportion of the original value that was not realized in the sale, reflecting the extent of the financial loss. Understanding the percentage loss is crucial for evaluating the impact of the sale on the asset's overall value and financial implications for the owner.