Question

The value of a bike depreciates by 35% per year. Work out the current value of a bike bought 2 years ago for £600

Answer 1

after 1st year the value of the bike is 35% less, worth 65% of the original price: 0.65*600 = 390
2nd year 65% of 390
.65*390 = 253.5

Answer 2

253.5 is the correct answer