Question

You buy a phone for $965 after one year it is worth $424 what is the rate of depression

Answer 1

Answer:

$\large \boxed{\mathbf{56.06 \, \% }}$

Step-by-step explanation:

1. Calculate the dollar depreciation

Original price = $965

Present value =   424

Depreciation = $ 541

2 Calculate the rate of depreciation

The phone has depreciated for one year.

$\begin{array}{rcl}\text{Rate of depreciation} & = & \dfrac{\text{Depreciation}}{\text{Original price}} \times 100 \, \%\\\\& = & \dfrac{\text{541}}{\text{965}} \times 100 \, \%\\\\& = & \dfrac{\text{541}}{\text{965}} \times 100 \, \%\\\\& = & \mathbf{56.06 \, \%}\\\\\end{array}\\\text{ The rate of depreciation is \large \boxed{\mathbf{56.06 \, \% }} per year}$