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A car's value depreciates by 10% each year. If its current value is $18,000, wha
A car's value depreciates by 10% each year. If its current value is $18,000, what will be its value after one year?
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Practice Questions
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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?
$16,200
$15,000
$14,400
$17,000
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Depreciation = 10% of 18000 = 0.1 * 18000 = 1800. Value after one year = 18000 - 1800 = 16200.
Questions & Step-by-step Solutions
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Q
Q: A car's value depreciates by 10% each year. If its current value is $18,000, what will be its value after one year?
Solution:
Depreciation = 10% of 18000 = 0.1 * 18000 = 1800. Value after one year = 18000 - 1800 = 16200.
Steps: 5
Show Steps
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.
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