Summarizing the problem, there are three terms that you have to deal with: purchasing cost, down payment and loan. So, you would expect that the answer would contain these quantities. Among them, the unknown is the purchasing cost, therefore, we denote this as x.
<span>Based on the statement, "The amount of the loan is the purchase cost minus the down payment", we can formulate an equation for this.
Amount of Loan = x - Down payment
This will be our working equation. Moving on, the down payment was mentioned to be equal to </span>$1500. The lean received is equal to <span>$2600. Substituting these values to the working equation, we can now determine the value of x.
2600 = x - 1500
Solving for x by transposing it to one side,
x = 2600-1500
x = $1,100
Therefore, the purchasing cost of the car is $1,100.</span>
We need to find the difference first. 65 - 60 = 5. Now we must find what percent 5 is of 65. It is 7,7%. The number decreased, and so it is a 7,7% decrease.
Answer:
Y=1/5x since 0.20 in fraction form is 20/100 or 1/5.
