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WAEC 2024 · Paper 1 · Q25

A car valued at $600,000.00 depreciates by 10%10\% each year. What will be the value of the car at the end of two years?

Worked solution (try it first)
  1. Each year the car keeps 90%90\% of its value, so multiply by 0.9 once a year.
  2. After one year: 0.9×600 000=540 0000.9 \times 600\,000 = 540\,000.
  3. After two years: 0.9×540 000=486 0000.9 \times 540\,000 = 486\,000.
  4. So the car is worth $486,000.00, option C.

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