Question

Ibrar bought a house for £250,000

The value of the house depreciated by 2% in the first year.
The value of the house depreciated by 0.6% in the second year.
Ibrar says,
"2 + 0.6 = 2.6 so in two years the value of my house depreciated by 2.6%"
Is Ibrar right?
You must give a reason for your answer

Answer 1

Explanation:

nope!

because the value has increased 6%*102%=6.12% in second year which we have 8.12% i total