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A car's value decreases by 10% each year. If the current value is $20,000, what

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Question: A car\'s value decreases by 10% each year. If the current value is $20,000, what will be its value after one year?

Options:

  1. $18,000
  2. $19,000
  3. $17,500
  4. $16,000

Correct Answer: $18,000

Solution: 

New Value = Current Value - (10% of Current Value) = 20000 - (0.1 * 20000) = 20000 - 2000 = $18,000.

A car's value decreases by 10% each year. If the current value is $20,000, what

Practice Questions

Q1
A car's value decreases by 10% each year. If the current value is $20,000, what will be its value after one year?
  1. $18,000
  2. $19,000
  3. $17,500
  4. $16,000

Questions & Step-by-Step Solutions

A car's value decreases by 10% each year. If the current value is $20,000, what will be its value after one year?
  • Step 1: Identify the current value of the car, which is $20,000.
  • Step 2: Calculate 10% of the current value. To do this, multiply the current value by 0.1: 0.1 * 20000 = $2,000.
  • Step 3: Subtract the 10% value from the current value to find the new value: 20000 - 2000 = $18,000.
  • Step 4: The value of the car after one year is $18,000.
  • Percentage Decrease – Understanding how to calculate a percentage decrease from a given value.
  • Basic Arithmetic – Applying basic arithmetic operations to find the new value after a decrease.
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