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A bicycle costs $120. If it depreciates by 15% each year, what will be its value

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Question: A bicycle costs $120. If it depreciates by 15% each year, what will be its value after one year?

Options:

  1. $102
  2. $100
  3. $110
  4. $90

Correct Answer: $102

Solution: 

15% of $120 is $18. Value after one year = $120 - $18 = $102.

A bicycle costs $120. If it depreciates by 15% each year, what will be its value

Practice Questions

Q1
A bicycle costs $120. If it depreciates by 15% each year, what will be its value after one year?
  1. $102
  2. $100
  3. $110
  4. $90

Questions & Step-by-Step Solutions

A bicycle costs $120. If it depreciates by 15% each year, what will be its value after one year?
  • Step 1: Identify the original cost of the bicycle, which is $120.
  • Step 2: Calculate 15% of $120. To do this, multiply $120 by 0.15.
  • Step 3: Perform the multiplication: $120 * 0.15 = $18.
  • Step 4: Subtract the depreciation amount ($18) from the original cost ($120).
  • Step 5: Perform the subtraction: $120 - $18 = $102.
  • Step 6: The value of the bicycle after one year is $102.
  • Depreciation – Understanding how to calculate the decrease in value of an asset over time.
  • Percentage Calculation – Ability to calculate a percentage of a given amount.
  • Subtraction – Performing basic arithmetic to find the new value after depreciation.
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