Question

the value of a car depricates by 15% every year, Find the percentage of depreciation in 3years.​

Answer 1

Answer:

Value of car depreciates by 15% every year

let value of car be P

Car value after 1 year = (100-15)% of P

= 85%of P

Car value after 2 year = 85% of 85% of P

Car value after 3 year = 85%of 85% of 85% of P

Depreciation in 3 years = P- 85% of 85%of 85%of P

= P- 0.85×0.85×0.85P

= P- 0.614P

= P(1-0.614)

=0.386P

So, %depreciation in 3years =0.386×100

=38.6%

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Answer 2

Answer:

Value of car depreciates by 15% every year

let value of car be P

Car value after 1 year = (100-15)% of P

= 85%of P

Car value after 2 year = 85% of 85% of P

Car value after 3 year = 85%of 85% of 85% of P

Depreciation in 3 years = P- 85% of 85%of 85%of P

= P- 0.85×0.85×0.85P

= P- 0.614P

= P(1-0.614)

=0.386P

So, %depreciation in 3years =0.386×100

=38.6%