Find the Value of a Car after 2 Years



Find the Value of a Car after 2 Years

A new car cost 120000 dollars. After 1 year it's value decreased by 20%. For the second year, its value decreases a further 10%. What is the value after 2 years?

Asked by: Zulficar on Oct 22, 2016.

1 Answer

Kokila said: (Sat, Oct 22, 2016 03:21:11 PM IST)

Answer:

Value of the car after 2nd year = 86400 dollars.

Solution:

Cost of new car = 120000 dollars

After 1 year:
120000 * 20/100 = 24000
120000 - 24000 = 96000
value of the car afetr 1 year = 96000 dollars.

For the second year:
96000 * 10/100 = 9600
96000 - 9600 = 86400
Value of the car after 2nd year = 86400 dollars.

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