You bought a boat for $10,000. You have owned it for one year, and it is now worth $8,500. What is the percent decrease in your boat's value?

Question

Jamal Frazier

Mathematics

5 November, 17:58

You bought a boat for $10,000. You have owned it for one year, and it is now worth $8,500. What is the percent decrease in your boat's value?

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Answers (1)

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Hailee Kerr · Answer 1

Original: 10,000

New: 8,500

You would always want to put original - new over original when it is percent of decrease. In this case, it would be 10,000 - 8,500 / 10,000. That would have 1,500 / 10,000 as an answer. Now, you would simplify, and it would give you 0.15. You switch it to percent, which is move the decimal to the right 2 times, and the answer would be 15%.