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If a car's value depreciates by 30% and its original value is $20,000, what is i

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Question: If a car\'s value depreciates by 30% and its original value is $20,000, what is its current value?

Options:

  1. 14,000
  2. 16,000
  3. 18,000
  4. 12,000

Correct Answer: 16,000

Solution: 

Depreciation = 30% of $20,000 = $6,000. Current value = $20,000 - $6,000 = $14,000.

If a car's value depreciates by 30% and its original value is $20,000, what is i

Practice Questions

Q1
If a car's value depreciates by 30% and its original value is $20,000, what is its current value?
  1. 14,000
  2. 16,000
  3. 18,000
  4. 12,000

Questions & Step-by-Step Solutions

If a car's value depreciates by 30% and its original value is $20,000, what is its current value?
  • Step 1: Identify the original value of the car, which is $20,000.
  • Step 2: Calculate 30% of the original value. To do this, multiply $20,000 by 0.30 (which is 30% in decimal form).
  • Step 3: Perform the multiplication: $20,000 * 0.30 = $6,000. This is the amount the car depreciates.
  • Step 4: Subtract the depreciation amount from the original value. So, $20,000 - $6,000 = $14,000.
  • Step 5: The current value of the car is $14,000.
  • Depreciation Calculation – Understanding how to calculate the depreciation of an asset based on its original value and the percentage decrease.
  • Percentage Reduction – Applying percentage calculations to determine the amount of value lost.
  • Subtraction of Values – Performing basic arithmetic to find the current value after depreciation.
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