Colin buys a tv for £740. It depreciates at a rate of 4% per year. How much will it be worth in 5 years? Give your answer to the nearest penny where appropriate.

Given :

Colin buys a tv for £740. It depreciates at a rate of 4% per year.

To Find :

How much will it be worth in 5 years.

Solution :

Decrease in price in 1 year is :

So, decrease in price after x years is :

Putting value of x and in above equation, we get :

Therefore, the worth of T.V after 5 years is £603.38 .

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