Question

As soon as a new vehicle is purchased and driven away from the dealership, it begins to lose its value, or depreciate. Bree bought a 1994 Moped for $3500. One year later, the value of the moped was $2730. What was the percent of decrease of the value of the moped?

Answer 1

7.7% decrease in the value of the moped

Explanation:

Bree bought a 1994 moped for $3,500

A year later the value of the moped dropped to $2,730

Therefore the percent of decrease of the value of the moped can be calculated as follows

= 3,500-2,730/100

= 770/100

= 7.7 % decrease

Hence there was a 7.7% decrease in the value of the moped