Last year ken bought a mountain bike for $460 his bike has depreciated since he bought it it is now worth $320 what percent did the value of kens bike depreciate over the past year to the nearest whole percent
(460-320)/460 = ?
To calculate the percent depreciation of Ken's bike, we can use the following formula:
Percent Depreciation = ((Initial Value - Current Value) / Initial Value) * 100
Given that Ken bought the mountain bike for $460 and it is now worth $320, we can substitute these values into the formula:
Percent Depreciation = ((460 - 320) / 460) * 100
Simplifying the equation:
Percent Depreciation = (140 / 460) * 100
Percent Depreciation = 0.3043 * 100
Percent Depreciation ≈ 30.43%
Therefore, the value of Ken's bike depreciated approximately 30.43% over the past year.
To find the percentage depreciation of Ken's bike, you need to calculate the difference between the original value and the current value, and then express this difference as a percentage of the original value.
The difference in value is calculated by subtracting the current value ($320) from the original value ($460):
Depreciation = Original value - Current value
Depreciation = $460 - $320
Depreciation = $140
To find the percentage, divide the depreciation by the original value and multiply by 100:
Percentage depreciation = (Depreciation / Original value) × 100
Percentage depreciation = ($140 / $460) × 100
Calculating this gives us:
Percentage depreciation ≈ (0.3043) × 100
Percentage depreciation ≈ 30.43
Rounding to the nearest whole percent, the value of Ken's bike depreciated by approximately 30 percent over the past year.