Question

The owner of a car bought the car for $40,000 and sold it for $25,600 after two years. If the rate of the car is depreciated by a constant rate, then what was the rate of depreciation per annum?​

Answer 1

Answer:

Price After two year =4,20,000

let price after one year =x

x

x−420,000

×100=20

x=

4

5

×420,000

x=525,000

let price (original ) =y

y

y−525,000

×100=20

y=

4

5

×525,000

y=656,250