Liam bought a new motorcycle for £15 000. In the first year, the value of the motorcycle depreciates by 22%. In the second year and the third year, the motorcycle depreciates by 18% each year.
Work out the value of the motorcycle after three years.
Practise OCR GCSE Maths Compound Interest and Depreciation with exam-style questions for Foundation and Higher tier. 44 questions, matched to the OCR GCSE Maths (J560) specification and written in the written papers 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.