Question

A car was bought in 2009 for $2010. Its value decreased by 20%. In 2011, its value decreased by 10% of its value in 2010. What is the value of the car at the end of 2011?

a) $1448
b) $1458
c) $1476
d) $1485

Answer 1

To find the value of the car at the end of 2011, calculate its value in 2010 and apply the given percentage decreases. The value of the car at the end of 2011 is approximately $1448.

Step-by-step explanation:

To find the value of the car at the end of 2011, we need to calculate its value in 2010 and then apply the given percentage decreases.

First, let's calculate the value of the car in 2010. Since the car was bought in 2009 and its value decreased by 20%, we can use the formula: Value in 2010 = Original Value - (Original Value * Percentage Decrease)

Value in 2010 = $2010 - ($2010 * 0.2) = $2010 - $402 = $1608.

Now, we can calculate the value of the car in 2011. Given that its value decreased by 10% of its value in 2010, we can use the formula: Value in 2011 = Value in 2010 - (Value in 2010 * Percentage Decrease)

Value in 2011 = $1608 - ($1608 * 0.1) = $1447.2.

Therefore, the value of the car at the end of 2011 is approximately $1448.