Algebra 1 Grade 9

Can anyone give me the correct answer for this math question?

Beng is shopping for a car. The cost of a new car is $15,500. This is 25% greater than the cost of a used car. What is the cost of the used car?

The cost of the used car is $11,625

15,500*0.25=x. x is unknown and 0.25 is the decimal form of 25%

15,500*0.25=3875. 3875 is 25% of 15,500

3875*3=3/4 of a new car which in turn makes this outcome 25% less then a new car which gives us the value of a used car.

$11,625 is the price of a used car.