Question

If you bought a boat for 10,000.You have owned it for one year and its now worth 8,500. What percent decrease in your boats value

Answer 1

-15%

Explanation:

The percent decrease can be calculated usinf the following formula:

`\text{Percent decrease}=\frac{\text{New price}-\text{Original price}}{\text{Original price}}\cdot 100\%.`

Since the original price is 10,000 and the new price is 8,500, then the percent decrease is

`\text{Percent decrease}=(8,500-10,000)/(10,000)\cdot 100\%=-(1,500)/(100)\%=-15\%.`