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A machine valued at ₦20, 000 depreciates by 10% every year. What will be the v...



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  • In the first year the value of the machine depreciates by
    #20,000*10%=#2,000
    At the end of the first year,the value of the machine will be
    #20,000-#2000=#18,000
    In the second year, the value of the machine depreciates by
    #18,000*10%=#1,800
    At the end of the second year, the value of the machine will be
    #18,000-#1,800=#16,200

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  • In the first year the value depreciates by
    #20,000*10%=#2,000
    At the end of the first year,the value of the machine will be
    #20,000-#2000=#18,000
    In the second year, the value of the machine depreciates by
    #18,000*10%=#1,800
    At the end of the second year, the value of the machine will be
    #18,000-#1,800=#16,200

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    Machine is valued at #20000
    Depreciates by 10% of the value (#20000) every year =20000/10=2000#
    So the machine value depreciates by #2000 every year
    So therefore two years depreciation would be #2000x2=#4000 minus the initial value (i.e ) #20000_#4000=#16000

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  • The first year
    10/100 x #20,000
    #200,000/100
    #2000
    20,000-2000
    #18,000
    The second year
    10/100 x #18,000
    180,000/100
    #1800
    18,000-1800
    #16,200
    Correct