[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.

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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…

[Solved]The price of a toy usually costing £50 is increased to £65. What is the percentage

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Step 1: Identifying the Initial and Final Prices The initial step in this problem is to identify the starting and ending prices of the toy. According to the question, the toy initially costs £50, and the price is increased to £65. Step 2: Understanding Percentage Increase The concept of “percentage increase” refers to how much…

[Solved] Joan invests £6000 in a savings account. The savings account pays compound interest at a rate of 2.4% for the first year and 1.7% for each extra year. Work out the value of Joan’s investment at the end of 3 years.

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Joan invests £6000 in a savings account. The savings account pays compound interest at a rate of 2.4% for the first year and 1.7% for each extra year. Work out the value of Joan’s investment at the end of 3 years. Concept used The concept used in this question is compound interest, calculated based on…