Mrs. Banks bought a car for $25,000 and sold it five years later for $16,000 find the percent decrease for the price of the car

The percent decrease for the price of the car = 36%

Step-by-step explanation:

Given:

CP = $25,000

SP = $16,000

To Find:

The percent decrease for the price of the car = ?

Solution:

Decrease% = 100(CP - SP) / CP

Decrease% =100( $25,000 - $16,000) / $25,000

Decrease% = 9,00000 / 25,000

Decrease% = 900/25

Decrease% = 36%

Therefore,

The percent decrease for the price of the car = 36%

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