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At the end of the year a car is worth 5% less than what it was worth at the beginning of the year. If a car was worth $9 500 in December 2016, then its value in January 2016 was

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khuranashilpa76

At the end of the year a car is worth 5% less than the value in January 2016 was $10,000.

Using profit and loss percentage concept

Let the cost of car at the beginning of the year be X.

  • Discount percentage at the end of year is 5%.

∴ the cost of car at the end of year(December 2016) after 5% discount is =

X-(X×5÷100) = $9500

=(20X-X)÷20=$9500

19X=9500×20

X=190000÷19

X=$10,000

  • The value of car in January 2016 was $10,000.

How to find profit and loss percentage?

The profit or loss percentage is always calculated on the cost price.

Learn more about profit and loss percentage here: brainly.com/question/21637154

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