A car's value decreases from $18,000 to $15,300 over a year. What is the percent decrease?

Question

A
20%
B
15%
C
10%
D
12%

Answer 1

To calculate the percent decrease in the value of the car, you can use the following formula:

\[ \text{Percent Decrease} = \left(\frac{\text{Original Value} - \text{New Value}}{\text{Original Value}}\right) \times 100 \]

In this case, the original value is $18,000 and the new value is $15,300.

1. Calculate the decrease in value: \[ \text{Decrease} = 18,000 - 15,300 = 2,700 \]

2. Now plug the decrease and original value into the percent decrease formula: \[ \text{Percent Decrease} = \left(\frac{2,700}{18,000}\right) \times 100 \]

3. Calculate the fraction: \[ \frac{2,700}{18,000} = 0.15 \]

4. Convert it to a percentage: \[ 0.15 \times 100 = 15% \]

Thus, the percent decrease is 15%.

The correct answer is B.