Question

a house was purchased in 2005 for $ 150000 it is now valued 135000 dollars.what is the rate of depreciation for the house​

Answer 1

Initially the house was worth $ 150000 in 2005

Now the house is worth $ 135000 in 2020

After 15 years he value dropped by

150000 - 135000 = $ 15000

Let rate of depreciation over 15 years be x percent

(x/100)*150000 = 15000

x = 10 percent

Every year the value drops by

15000/15 = $ 1000

Let rate of depreciation per year be y percent

(y/100)*150000 = 1000

y = 0.67  or (2/3) percent

:-)