GCE Mathematics 2024 Objective — Question 25
Question 25 of 50 from the General Certificate of Education (GCE) Mathematics 2024 Objective paper, with the correct answer and a full explanation.
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A car valued at $600,000.00 depreciates by 10% each year. What will be the value of the car at the end of two years?
- A. A. $120,000.00
- B. B. $480,000.00
- C. C. $486,000.00Correct
- D. D. $540,000.00
Explanation
Value after 2 years = 600,000×(1−0.10)² = 600,000×(0.9)² = 600,000×0.81 = $486,000.00.
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