Question

a man bought a car for $60320. after using it for 2 years he decided to trade in the car the company estimated a depreciation of 15% for the first year of its use and further 15% on its reduced value for the second year calculate the value of the car after 2 years

Answer 1

Answer:

43581.2

Step-by-step explanation:

1st year depreciation 15/100=0.15

0.15*60320

now price after one year is 51272

lets depreciation at reduced value 51272

2nd year depreciation at reduced value=15/100*51272=7690.8

51272-7690.8=43581.2ans

Answer 2

Step-by-step explanation:

Cost Price of car = $60320

Estimated depreciation for 1st year = 15%

Estimated depreciation for 2nd year = 15%

Total depreciation = 15+15 = 30%

value of car = (30/100*60320)- 60320 = 60320-18096= 42,224