Question

The next model of a sports car will cost 3.1% less than the current model. The current model cost $54,000. How much will the price decrease in dollars? What will be the price of the next model?

Answer 1

Answer:

The price decrease will be $1,674

The price of the next model will be $52,326

Explanation:

Given the cost of the current model as $54,000.

We're told that the next model of the car will cost 3.1% less than the current model, let's go ahead determine the price decrease as seen below;

$54000\times\frac{3.1}{100}=54000\times0.031=\text{ \ 1,674}$

We can see from the above that the price decrease is $1,674.

Let's go ahead and determine the price of the next model as seen below;

$54000-1674=\text{ \ 52,326}$

Therefore, the price of the next model will be $52,326