Question

Colin buys a car for £42800. It depreciates at a rate of 5% per year. How much will it be worth in 2 years? Give your answer to the nearest penny where appropriate.

Answer 1

Answer:

Colin buys a car for 42800 lt depreciates at a rate of 5%per year x give in worth in 2 year

p=42800 R=5% y=2

so

I= P×R×Y ÷ 100

I= 42800×5×2÷100

so 428×10

= 4280

it is intrest of 1 year 4280

so the total interest of 2 year

is

4280×2 = 8560

so the worth of 2 year is 8560