SOLUTION: a new automobile depreciated 20% of its value in 1 year. if the automobile is prices at $18,000 after 1 year , what was the cost when it was new ?

Question 953258: a new automobile depreciated 20% of its value in 1 year. if the automobile is prices at $18,000 after 1 year , what was the cost when it was new ?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
a new automobile depreciated 20% of its value in 1 year. if the automobile is prices at $18,000 after 1 year , what was the cost when it was new ?
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Equation::
x - 0.20x = 18000
0.8x = 18000
x = 18000/0.8
x = $22500 (original price)
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Cheers,
Stan H.
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