In 2000, the book value of a car was 2/3rd of the original purchase price, and in 2004, its book value was 1/2 of the original purchase price. By what percentage did the value of the car decrease from 2000 to 2004.
Created: 6 years ago |
Updated: 2 years ago
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In 2000, the book value of a car was 2/3rd of the original purchase price, and in 2004, its book value was 1/2 of the original purchase price. By what percentage did the value of the car decrease from 2000 to 2004.
Let the original price be P.
Value in 2000 = 2P/3
Value in 2004 = P/2
So, percentage of decrease in value = (2P/3 - P/2) / (2P/3) x 100% = 25%
Md Azizur Rahman
Founder of Satt
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