A car bought for $13,000 depreciates at 12% per year. What is the value of the car after 7
Years?

2 thoughts on “A car bought for $13,000 depreciates at 12% per year. What is the value of the car after 7<br /> Years?”

1. Step-by-step explanation:

   CP = 13000

   T = 7 yrs

   loss percent = 12%

   value of car after 7 yrs = CP – loss percent × time

   13000 – 12× 7

   = 11838

   so value of car after 7 years is 11838

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2. Step-by-step explanation:

   Cost Price = $13,000

   T = 7 years

   Loss percentage = 12% per year

   Value of car after one year = CP – Loss percentage

   => $13,000 – 12/100 × 13,000

   => 13,000 – 166 = $12,834

   Value of car after 7 years = CP – Loss percentage × 7

   => $13, 000 – 12/100 × 13,000 × 7

   => 13,000 – 1162 = $11,838

   Therefore, the value of car after 7 years will be $11,838

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