Seven-eighths minus five-twelfths
2 answers:
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£7200
In first year depreciates by 20%, that is it is worth 80% of it's original value
80% = = 0.8
value after 1 year = 0.8 × £10000 = £8000
In the second year it depreciates by 10% of it's value, that is it is worth 90% of it's value at the end of the first year.
90% = = 0.9
value after 2 years = 0.9 × £8000 = £7200