Percentages, SM-Bank 084

Jeffrey bought a new car for $$35\ 000$ in 2021 and sold it in 2023 for $$21\ 000$.

Calculate the loss that Jeffrey made. (1 mark)

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Calculate the percentage loss on the new car price. (2 marks)

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a. $$14\ 000$

b. $40\%$

Show Worked Solution

a. $\text{Loss}=35\ 000-21\ 000=$14\ 000$

b. $\text{Percentage Loss}$	$= \dfrac{\text{loss}}{\text{original price}}\times 100\%$
	$=\dfrac{14\ 000}{35\ 000}\times 100\%$
	$=40\%$

b. \(\text{Percentage Loss}\)	\(= \dfrac{\text{loss}}{\text{original price}}\times 100\%\)
	\(=\dfrac{14\ 000}{35\ 000}\times 100\%\)
	\(=40\%\)