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A car's value depreciates by 10% each year. If its current value is $9000, what

Practice Questions

Q1
A car's value depreciates by 10% each year. If its current value is $9000, what will be its value after one year?
  1. $8100
  2. $8200
  3. $8300
  4. $8400

Questions & Step-by-Step Solutions

A car's value depreciates by 10% each year. If its current value is $9000, what will be its value after one year?
Correct Answer: 8100
  • Step 1: Identify the current value of the car, which is $9000.
  • Step 2: Calculate 10% of the current value. To do this, multiply 9000 by 0.1 (which is the decimal form of 10%).
  • Step 3: Perform the multiplication: 0.1 * 9000 = 900. This is the amount the car will depreciate.
  • Step 4: Subtract the depreciation amount from the current value. So, $9000 - $900 = $8100.
  • Step 5: The value of the car after one year will be $8100.
  • Depreciation Calculation – Understanding how to calculate the depreciation of an asset based on a percentage of its current value.
  • Percentage Reduction – Applying percentage reduction to find the new value after depreciation.
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