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21 August, 11:47

Dafydd bought a bike for £300 on 1st February 2010. Every year the value of the bike depreciates by 18% of its' value at the start of the year. Find the value of the bike on 1st February 2014.

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  1. 21 August, 12:45
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    Answer: £165.41

    Step-by-step explanation:

    Price of bike when purchased in 2010 = £300

    Depreciation rate yearly = 18%

    Value of bike in 2011

    Purchased price - depreciation value

    = £300 - £300 * 0.18

    = £300 - £54

    = £246

    Value of bike in 2012

    = 2011 Price - depreciation value

    = £246 - £246 * 0.18

    = £246 - £44.28

    = £201.72

    Value of Bike in 2013

    = price of 2012 - depreciation value

    = £201.72 - £201.72 * 0.18

    = £201.72 - £36.31

    = £165.41

    Price in 2014 would be £165.41
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