Answer:
Explanation:
A non-calculator method to find the value of a car after one year, when it has depreciated by 25%, would be to use the following formula:
Original value x (1 - depreciation rate) = Depreciated value
In this case, the original value is £12,000 and the depreciation rate is 25%, so:
£12,000 x (1 - 0.25) = £9,000
So, the car would be worth £9,000 after the first year.
Another way to think about it is, the 25% depreciation is equal to 12,000 x 25/100 = £3000, so the depreciated value would be 12,000-3000 = £9000