Question

Colin buys a tv for £800. It depreciates at a rate of 1% per year. How much will it be worth in 2 years? Give your answer to the nearest penny where appropriate

Answer 1

Answer: £784.08

Step-by-step explanation:

First find 1% of 800, which is 800/100=£8

800-8= £792 after 1 year

find 1% of 792, which is 792/100=£7.92

792-7.92= £784.08