Answer:
£8000
Step-by-step explanation:
Since the car depreciates at 12% every year
So we will have to determine the amount that is depreciated for the first year
So let's solve
12/100×20000
12×200
2400
2400 is the amount depreciated every year so to determine for 5 years it will be
2400×5
12000
£12000 is the amount depreciated for 5years
So to determine the amount he bought the car after the five years
It will be 20000-12000
=8000
Therefore he bought the car £8000 after the fifth year
