Question

A car is bought for £8500

In it's first year it's price reduces by 10%
Each year after that it decreases by 5%
What is the price after 3 years?

Answer 1

Answer: The price after 3 years is £6904.15

Explanation:

After 1 year, 8500*0.9= 7650

7650*0.95=7267.5

7267.5*0.95=6904.125

The price after 3 years is £6904.15