Question

The price of a new car is $40,000 while the price of a five-year old car of the same brand is $16,000. The next year the price of the new car increases to $44,000 and the price of a five-year old car of the same brand is $17,600. The relative price of the used car

Answer 1

0.4

Step-by-step explanation:

Relative Price of Used Car

= Change in Price of Used Car /Change in Price of New Car

$(17600-16000)/(44000-40000)

$1600/4000

= 0.4