## [Solved]The value of a new car is £18,000. The value of the car decreases by 25% in the first year and 12% in each of the next 4 years. Work out the value of the car after 5 years.

Solution: From the question, it is given that the value of a new car is £18,000. The value of car decreased by 25% in the first year. Now we will find the value of the car after it decreased by 25% 25% of 18000=£4500 Value of car after it decreased by 25% = Initial value…