The price of a new textbook is $60 in one year and $75 two years later, while the price of a used copy of the textbook increased from $25 to $37.50. The relative price of a new textbook
A) increased by 25 percent.
B) increased from 2.4 to 3.
C) decreased from 2.4 to 2.0.
D) decreased from 1.4 to 1.25.

Question

Quizplus · Accepted Answer

To calculate the relative price of a new textbook, we divide the price of a new textbook by the price of a used copy of the textbook.

One year after publication, the relative price of a new textbook is:
60/25 = 2.4

Two years after publication, the relative price of a new textbook is:
75/37.5 = 2

Therefore, the relative price of a new textbook has decreased from 2.4 to 2.0, which makes the correct answer C.

The Price of a New Textbook Is $60 in One