The value of a school bus reduces from $512000 to $343000in 3 years. Find the uniform rate of depreciation per annum (R).

The uniform rate of depreciation is $56,333 per year, or 11% per year.

Step-by-step explanation:

Rate of Depreciation

If some object has a certain value P and after some time t its value decreases to Q, the rate of depreciation is a measure of how much its value changed per unit time.

It can be calculated as:

It can also be expressed as a percentage, dividing the previous value by P.

The school bus reduces its value from $512,000 to $343,000 in 3 years, thus:

R = 56,333 $/year

Expressed as a percentage:

R = 56,333 / 512,000 = 0.11

R = 11%/year

The uniform rate of depreciation is $56,333 per year, or 11% per year.

step-by-step explanation:

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