Question

A car is purchased for $34000,its value depreciates at 10% per annum during the the second year and at 20% per annum during the second year. what will be its value after 2 years ​

Answer 1

Step-by-step explanation:

Principal= $34000

Rate = 10% 1 year

20% 2 year

Time = 2 year

$amount = p(1 + \frac{r}{100}) {}^{n}$

$amount = 34000(1 + \frac{10}{100} )(1 + \frac{20}{100} )$

Amount= 3400×110/100×120/100

Amount= 4488