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A car is purchased for $20,000. In two years, the car is valued at $18,050. What is the rate of depreciation of the car? a. 5% b. 6% c. 8% d. 10%

A car is purchased for $20,000. In two years, the car is valued at $18,050. What is the rate of depreciation of the car? a. 5% b. 6% c. 8% d. 10%
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A car is purchased for $20,000. In two years, the car is valued at $18,050. What is the rate of depreciation of the car?

a. 5%
b. 6%
c. 8%
d. 10%

User SteveFerg
by
8.2k points

2 Answers

0 votes
A. 5

20000- 18050 = 1950
1950/2 = 975
975/20000 = .48 (round to 5)

User Eze
by
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3 votes
The rate of depreciation in this car is A. 5%
User Steven Peterson
by
8.4k points
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