The value of a bike depreciates by 55% per year. Work out the current value of a bike bought 2 years ago for £1300.

1 answer:

7 0

Year 1: 1,300 * 55% = 715 depreciation
1,300 - 715 = 585 book value

Year 2: 585 * 55% = 321.75 depreciation
585 - 321.75 = 263.25 book value

Year 3: 263.25 * 55% = 144.79 depreciation
263.25 - 144.79 = 118.46 book value

If the bike was bought 2 years ago, then its current value is $263.25.

Currently, it is the beginning of Year 3 but depreciation is computed at the end of the year.

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Answer:

see below

Step-by-step explanation:

Usually, we're concerned about the relationship of y to x. Here, the question is asking you to consider the relationship of x to y.

The easiest way to find the answer to this one is to check the given explanations to see which is true. You can pretty much ignore the first row of the table and just look at the second row where x=5 and y=15.