Question

Colin buys a tv for £800. It depreciates at a rate of 4% per year. How much will it be worth in 3 years? Give your answer to the nearest penny where appropriate.

Answer 1

Given:

The cost of the T.V. for Colin = £ 800.

The rate of depreciation per year = 4%

Time period = 3 years

To find:

How much will it be worth in 3 years? Give your answer to the nearest penny where appropriate.

Solution:

To solve the above-given problem, we will use the following formula:

$\boxed{\boxed{\bold{A = P [1 - \frac{R}{100} ]^n}}}$

where

A = the final value after depreciation

P = the present value

R = rate of depreciation

n = time period

Now, on substituting the given values in the formula, we get

$A = 800 \times [1 - \frac{4}{100} ]^3$

$\implies A = 800 \times [1 - \frac{1}{25} ]^3$

$\implies A = 800 \times [\frac{24}{25} ]^3$

$\implies A = 800 \times \frac{13824}{15625}$

$\implies A = 707.78$

we will round the above answer to its nearest penny where appropriate

$\implies A$ ≈ £ 708

Thus, the worth of the t.v. in 3 years will be £ 708.

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Also View:

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The cost of a television is 30000 there is depreciation of 20% each year what is the cost of television after 2 years.

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Answer 2

Answer:

Step-by-step explanation: