Mathematics for IGCSE & O level - Percentages (Section 1 - No. 38)

If an item's value reduces by 15% per year and its original value is £1400, what will be the value after 4 years?

£728.05

£800

£900

£600

Use the formula: Future Value = Present Value * (1 - Rate of Depreciation)^Number of Years; 1400 * (1-0.15)^4