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17 Dec 2020, 04:45
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C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
96% (00:58) correct
4%
(01:21)
wrong
based on 69
sessions
History
Date
Time
Result
Not Attempted Yet
A musical instrument depreciates by 20% of its value each year. What is the value, after 2 years, of a piano purchased new for $1200?
(A) $48
(B) $675
(C) $768
(D) $912
(E) $1152
(A) $48
(B) $675
(C) $768
(D) $912
(E) $1152
callmeDP
Joined: 25 Oct 2020
Last visit: 12 Dec 2022
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17 Dec 2020, 05:16
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Bunuel
Depreciates by 20% or Value after one year becomes 80% of existing.
Therefore, End of first year value is = 80 % of 1200 = 960$
End of second year value is = 80 % of 960 = 768 $
17 Dec 2020, 06:34
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Purchase price= \(1200$\).
Rate of depreciation/year= \(20\)%,
Therefore, the value of the guitar after being depreciated for 2 years is \(1200$ * 0.8*0.8 = 768$\).
Therefore, the OA is C.
Rate of depreciation/year= \(20\)%,
Therefore, the value of the guitar after being depreciated for 2 years is \(1200$ * 0.8*0.8 = 768$\).
Therefore, the OA is C.
