Question

Gwilym is stacking 6 boxes in his garage. Inside one of the boxes is an old clock. Gwilym takes the clock to be valued. It is valued at £56. The clock has decreased in value by 30% from last year. Calculate how much the clock was worth last year.

Answer 1

To find the original value of the clock, divide its current value of £56 by 70 to find the value of 1%, then multiply by 100. The clock was worth £80 last year before it depreciated by 30%.

Step-by-step explanation:

To calculate the original value of the clock before its depreciation of 30%, we need to work out what 100% would have been when 70% (100% - 30%) is known to be £56. To do this, we divide £56 by 70 and then multiply by 100 to find out what the full 100% would have been.

Here's the step-by-step calculation:

1. £56 is 70% of the original value (100% - 30% = 70%).
2. To find 1%, divide £56 by 70: £56 / 70 = £0.80 per 1%.
3. To find 100%, multiply £0.80 by 100: £0.80 x 100 = £80.

Therefore, the clock was worth £80 last year.