SOLUTION: John buys a car for N$ 64 000 and sell it for N$ 56 000 a year later. Calculate the percentage loss.

Question 1183582: John buys a car for N$ 64 000 and sell it for N$ 56 000 a year later. Calculate the percentage
loss.
I NEED SOME HELP HERE PLEASE FOR MY ASSINGMENT
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
it was bought for 64000
it was sold for 56000 one year later.

the loss was 64000 minus 56000 = 8000.

the percent loss was the loss divided by the purchase price * 100 = 8000 / 64000 = 8/64 = 1/8 = .125 * 100 = 12.5%.

12.5% loss * 64000 = .125 * 64000 = 8000 loss.

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