Last year, Ken bought a mountain bike for $460. His bike has depreciated since he bought it. It is now worth $320. What percent did the value of Ken’s bike depreciate over the past year, to the nearest whole percent?

Answer 1

To find the percent depreciation of Ken's bike, we can use the following formula:

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

In this case, Ken's original value is $460 and the current value is $320.

1. Calculate the depreciation in value: \[ \text{Depreciation} = 460 - 320 = 140 \]

2. Now, calculate the percent depreciation: \[ \text{Percent Depreciation} = \left( \frac{140}{460} \right) \times 100 \]

3. Calculate the fraction: \[ \frac{140}{460} \approx 0.3043478261 \]

4. Convert to a percentage: \[ 0.3043478261 \times 100 \approx 30.43478261 \]

5. Round to the nearest whole percent: \[ \text{Percent Depreciation} \approx 30% \]

Therefore, the value of Ken's bike depreciated by approximately 30% over the past year.