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A car's value depreciates by 10% each year. If its current value is $18,000, wha

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Question: A car\'s value depreciates by 10% each year. If its current value is $18,000, what will be its value after one year?

Options:

  1. $16,200
  2. $15,000
  3. $14,400
  4. $17,000

Correct Answer: $16,200

Solution: 

Depreciation = 10% of 18000 = 0.1 * 18000 = 1800. Value after one year = 18000 - 1800 = 16200.

A car's value depreciates by 10% each year. If its current value is $18,000, wha

Practice Questions

Q1
A car's value depreciates by 10% each year. If its current value is $18,000, what will be its value after one year?
  1. $16,200
  2. $15,000
  3. $14,400
  4. $17,000

Questions & Step-by-Step Solutions

A car's value depreciates by 10% each year. If its current value is $18,000, what will be its value after one year?
Correct Answer: 16200
  • Step 1: Identify the current value of the car, which is $18,000.
  • Step 2: Calculate 10% of the current value. To do this, multiply $18,000 by 0.1 (which is 10%).
  • Step 3: Perform the multiplication: 0.1 * 18000 = $1,800. This is the amount the car will depreciate.
  • Step 4: Subtract the depreciation amount from the current value. So, $18,000 - $1,800 = $16,200.
  • Step 5: The value of the car after one year will be $16,200.
  • Depreciation – Understanding how the value of an asset decreases over time, specifically through a percentage reduction.
  • Percentage Calculation – Calculating a percentage of a given value and applying it to find the new value after depreciation.
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