The Price of a New Car Is $40,000 While the Price

question 411

Multiple Choice

The price of a new car is $40,000 while the price of a five-year old car of the same brand is $16,000. The next year the price of the new car increases to $44,000 and the price of a five-year old car of the same brand is $17,600. The relative price of the used car

• A) decreased by $2,400.
• B) decreased by 10 percent.
• C) increased by 10 percent.
• D) remained constant at 0.4.

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