After one year, the value of Annie's car had reduced by 20%.
At the end of the second year, the value of Annie's car had reduced by a further 15% of its value at the
end of the first year.
(i) Calculate the overall percentage reduction after the two years.
Answers
Given : After one year, the value of Annie's car had reduced by 20%.
At the end of the second year, the value of Annie's car had reduced by a further 15% of its value at the end of the first year.
To Find : the overall percentage reduction after the two years.
Solution:
Let say initial value of Car = 100C
After one year, the value of Annie's car had reduced by 20%.
=> Value of Car after 1 year = 100C - (20/100)100C
= 100C - 20C
= 80C
Value of Car at end of 1 year = 80C
the value of Annie's car had reduced by a further 15% of its value at the
end of the first year.
Value of Car after 2 year =80C - (15/100)80C
= 80C - 12C
= 68C
Overall reduction = 100C - 68C = 32C
overall percentage reduction after the two years. = (32C/100C) * 100
= 32 %
32 % Reduction
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