Question

2 of 10

x
Colin buys a car for £27900.
It depreciates at a rate of 3% per year.
How much will it be worth in 2 years?
Give your answer to the nearest penny where appropriate.

Answer 1

Below

Explanation:

3% loss means 97% (.97 in decimal ) remains

after 2 years :

27 900 ( .97)^2 = £ 26251 .11