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Aaliyah bought a car - Edexcel - GCSE Maths - Question 10 - 2022 - Paper 2

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Aaliyah bought a car. In the first year after she bought the car, its value depreciated at a rate of 23% per annum. In the second year after she bought the car, its... show full transcript

Worked Solution & Example Answer:Aaliyah bought a car - Edexcel - GCSE Maths - Question 10 - 2022 - Paper 2

Step 1

What was the value of the car when Aaliyah bought it?

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Answer

To find the value of the car when Aaliyah bought it, we need to reverse the depreciation that occurred over the two years.

Step 1: Find the value of the car at the end of the first year.

Since the car depreciated by 19% in the second year, its value at the end of the first year (denote this value as V1) can be found using:

V2=V1imes(10.19)V2 = V1 imes (1 - 0.19)

Substituting the end value V2 = £10914.75:

10914.75=V1imes0.8110914.75 = V1 imes 0.81

Now, solve for V1:

V1=10914.750.8113421.60V1 = \frac{10914.75}{0.81} \approx 13421.60

Step 2: Find the original value of the car when Aaliyah bought it.

Now, we know the value of the car at the end of the first year was approximately £13421.60. Since it depreciated by 23% in the first year, we can find the original value (denote this value as V0) as follows:

V1=V0imes(10.23)V1 = V0 imes (1 - 0.23)

Substituting the value of V1:

13421.60=V0imes0.7713421.60 = V0 imes 0.77

Now, solve for V0:

V0=13421.600.7717445.26V0 = \frac{13421.60}{0.77} \approx 17445.26

Conclusion:

Thus, the value of the car when Aaliyah bought it was approximately £17445.26.

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