Sarah bought a motorboat for £25 000. In the first year, the value of the motorboat depreciates by 25%. In the second year and the third year, the motorboat depreciates by 12% each year.
Work out the value of the motorboat after three years.
Practise AQA GCSE Maths Compound Interest and Depreciation with exam-style questions for Foundation and Higher tier. 44 questions, matched to the AQA GCSE Maths (8300) specification and written in Paper 1, Paper 2 and Paper 3 style. Every question includes a full worked solution and mark scheme, so you can see where marks are awarded rather than just whether you got the answer right.