A used automobile dealership recently reduced the price of a used car by 8%. If the price of the car before discount was $18,300, find the discount and the new price.

The discount price is $__?

Discount = $1,464 New Price = $16,836

Step-by-step explanation:

The initial price is given as $18,300.

The price is reduced by a discount of 8%.

Discount = 8% of 18300

= 8/100 = 0.08 x 18300 = $1,464.

New price = $18,300 - $1,464

= $ 16,836

This can also be worked out as follows:

After the discount of 8%, the new price is 92% of the initial price.

92% =.92 x $18300 = $16,836

Discount = $1,464 New Price = $16,836