AQA GCSE Mathematics · 8300
Specification R16 · Paper 1, Paper 2, Paper 3
Loading…
Loading…
Loading…
GCSE Mathematics · key term
A repeated decrease in the value of an item, usually expressed as a percentage per time period.
Used by AQA, Edexcel and OCR
Specification R16 · Paper 1, Paper 2, Paper 3
Specification R16 · Paper 1, Paper 2, Paper 3
A compound decrease in the value of an asset over time.
Revise: Growth and DecayDepreciation is compound decrease.
Specification 5.03a · Paper 1 (Foundation), Paper 2 (Foundation), Paper 3 (Foundation), Paper 4 (Higher), Paper 5 (Higher), Paper 6 (Higher)
A reduction in the value of an item over time, often calculated as a percentage of its current value in each period.
Revise: Compound Interest and DepreciationDepreciation follows the same mechanism in reverse. If a car loses a percentage of its value each year, the second decrease is calculated from its value after the first decrease. Equal percentage decreases therefore do not usually mean equal cash decreases.
Check whether the question asks for the final amount, the interest earned or the amount of depreciation; these are different answers.
Create a free account to read GCSE Mathematics revision notes for your exam board and track your progress.