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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Solve the following word problems for the portion, rate, or base.

Municipal Auto Sales advertised a down payment of $1,200 on a Mustang valued at $14,700. What is the percent of the down payment? Round to the nearest tenth of a percent.

To determine

To calculate: The percent of the down payment and round it to the nearest tenth of a percent, if the Municipal Auto Sales publicized a down payment of $1,200 on a Mustang of value $14,700.

Explanation

Given Information:

The Municipal Auto Sales publicized a down payment of $1,200 on a Mustang of value $14,700.

Formula used:

Steps for computing percentage problems;

Step1: Recognize the two known values and the unknown value.

Step2: Pick the formula that solves the unknown value.

Step3: Solve the equation by putting the known values for the letters in the formula.

The formula to compute the rate is;

R=PB

Calculation:

The value of the base is B=$14,700 as the base is the whole amount and here the Mustang valued at $14,700 hence it is the base and the value of portion is P=$1,200 as it is the part of the base.

Here, percent of the down payment is missing showing that rate is unknown as the rate is the term having % sign

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