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A car's value depreciates by 20% each year. If the current value is $25,000, wha
A car's value depreciates by 20% each year. If the current value is $25,000, 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 20% each year. If the current value is $25,000, what will be its value after one year?
$20,000
$22,000
$24,000
$25,000
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Depreciation = 20% of 25,000 = 5,000. Value after one year = 25,000 - 5,000 = 20,000.
Questions & Step-by-step Solutions
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Q
Q: A car's value depreciates by 20% each year. If the current value is $25,000, what will be its value after one year?
Solution:
Depreciation = 20% of 25,000 = 5,000. Value after one year = 25,000 - 5,000 = 20,000.
Steps: 5
Show Steps
Step 1: Identify the current value of the car, which is $25,000.
Step 2: Calculate 20% of the current value. To do this, multiply $25,000 by 0.20.
Step 3: Perform the multiplication: $25,000 * 0.20 = $5,000. This is the amount the car depreciates.
Step 4: Subtract the depreciation amount from the current value. So, $25,000 - $5,000 = $20,000.
Step 5: The value of the car after one year is $20,000.
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