Respuesta :
Solution:
Given:
[tex]\begin{gathered} \text{Depreciation percentage = 20\%} \\ \text{Present value = \$19,000} \end{gathered}[/tex]Let the value of the car one year ago be represented by x.
If 20% has been depreciated, then it means the percentage left is;
100 - 20 = 80%
Hence,
[tex]80\text{ \% of x = \$19,000}[/tex][tex]\begin{gathered} \frac{80}{100}\times x=19000 \\ \frac{80x}{100}=19000 \\ 80x=100\times19000 \\ 80x=1900000 \\ x=\frac{1900000}{80} \\ x=23750 \end{gathered}[/tex]Therefore, the value of the car one year ago was $23,750
