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WAEC Mathematics 2024 Question 25

Question 25

Commercial Arithmetic

A car valued at $600,000.00 depreciates by 10% each year. What will be the value of the car at the end of two years?

  1. A.$120,000.00
  2. B.$480,000.00
  3. C.$486,000.00
  4. D.$540,000.00
Show the answer and explanation

Answer: C ($486,000.00)

Explanation

Each year the value is multiplied by 0.9: 600 000 × 0.9 × 0.9 = $486,000.