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After a serious automobile accident, most insurance companies will replace the damaged car with a new one if repair costs exceed 80% of the value of the car. An individual's car recently sustained $7200 worth of damage but was not replaced. What was the value of his car?

Answer :

Solution

For this case we know that the company only pays if the cost exceed 80% of the value of the car, so we can create this inequality:

[tex]7200\le0.8x[/tex]

And solving for x we got:

[tex]x\ge\frac{7200}{0.8}[/tex][tex]x\ge9000[/tex]

Then the value needs to be higher than 9000$

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