A new car was bought for €24,000. It decreased in value by 20% in the first year. If it’s value at the end of the second year was €16128, by what percentage did it’s value decrease during the second year?
Mathematics · Middle School · Tue Nov 03 2020
Answered on
Given :
Value of car at the beginning = €24000
It decreased in value by 20% in first year
So, value of car at end of 1st year = 24000/100 × 80
= €19200
Value of car at end of 2nd year = €16128
So, value change during 2nd year = €(19200 - 16128)
=€3072
So, decrease in value in 2nd year (in%) = 3072/19200 × 100%
= 16%
Thus, value of car decreased by 16% in 2nd year.