Eva purchased a car for $26,000. One year later the value of the car had dropped to $8,000. What is the percent decrease in the value of the car?

Answer 1

So to begin with, we know we're going to set this problem equal to $8,000. Our unknown value is a percentage OF the original price ($26,000).

So, it started out at 26,000 and decreased:

$26,000 - _______=$8,000

Our unknown is a percentage OF (in word problems, of means multiplication) the original price, so:

$26,000-$26,000x=$8,000

Solving for x we get 0.6923

To get the percentage we multiply this by 100:

So, x=69.23%

Answer 2

$26,000 price

one year later price drops $8,000 to $18,000

18000/26000 = 18/26 = 9/13 = about .6923 = 69.23% decrease in price

Answer 3

The percentage decrease is the amount of the decrease divided by the initial value of the car, then that resulting decimal is turned into a percent by multiplying by 100.

The amount of decrease is 26000 - 8000 = 18000

% decrease = 18000/26000 = 0.6923 x 100 = 69.23%