Question

A new scooter is valued at $15 000.
At the end of each year its value is reduced
by 15% of its value at the start of the year.
What will it be worth after 3 years?

Answer 1

here

p= 15000

r=15%

t= 3 yrs

now

depreciation = p(1-r/100)^t

= 15000(1-15/100)^3

=9211.875

=9212 or 9211.88