Question

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?

Answer 1

Percent Decrease = (Decrease in Value/Original Value) x 100      

                              = (1500/10000) x 100                                                                                                                                                

                               = (15/100) x 100      

                              = 15%                                                                            

Answer 2

Answer:

15% decrease in one year.

Step-by-step explanation:

Cost price of a boat: $10,000

Current worth (Selling price): $8,500/-

Percent decrease = 100 - [(SP/CP) *100]

                              = 100 - [ (8500/10000) *100]

                              = 100 - 85

                              = 15

Hence, there was 15% percent of decrease in the boat's value after one year.