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 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.