Question

Hi there!

I was stuck on this question for homework. Could please give me a step by step instruction on how to approach this question.

At the start of 2014 mikes car was worth 12000. The value of the car decreased by 30% every year. Work out the value of the car at the start of 2017.

Thanks :D

Answer 1

2015:

`12000 - 100\% \\ x - 70\% \\ x = (12000 * 70)/(100) = 12000 * 0.7 = 8400`
2016:

`8400 - 100\% \\ x - 70\% \\ x = 8400 * 0.7 = 5880`
2017:

`5880 - 100\% \\ x - 70\% \\ x = 5880 * 0.7 = 4116`