Question

remy bought a vintage toy car at a collectors fair for $320. a few months later, remy discovered a small defect in the toy car, which reduced its value to $262. what is the percent decrease in the value of the toy car? 22.14% 18.125% 5.52% 58%

Explanation:

Step1: Identify original and new values

Original value = $320$, New value = $262$.

Step2: Use percent - decrease formula

Percent decrease=$\frac{\text{Original value}-\text{New value}}{\text{Original value}}\times100\%=\frac{320 - 262}{320}\times100\%$.

Step3: Calculate numerator

$320-262 = 58$.

Step4: Calculate fraction value

$\frac{58}{320}= 0.18125$.

Step5: Convert to percentage

$0.18125\times100\%=18.125\%$.

Answer:

$18.125\%$