Melissa bought a horse in 2007 for €500 - Junior Cycle Mathematics - Question 13 - 2012
Question 13
Melissa bought a horse in 2007 for €500. She took the horse to the sales each year for three years to have it valued but did not sell. She recorded the values on the... show full transcript
Worked Solution & Example Answer:Melissa bought a horse in 2007 for €500 - Junior Cycle Mathematics - Question 13 - 2012
Step 1
Use a line to join the points on the graph.
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Answer
Plot the values recorded for Melissa’s horse over the years on the graph and join these points with a straight line. Ensure the line accurately represents the decreasing trend in value.
Step 2
If the pattern continued, what was the horse worth in 2011?
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Answer
Following the trend, in 2011, the horse would be worth €300. This amount can be deduced from the trend shown in the graph.
Step 3
How much does the horse lose in value each year?
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Answer
The horse loses €50 in value each year. This can be calculated by observing the drop in value from 2007 (€500) to 2010 (€350) over three years, which totals €150, resulting in an annual loss of €50.
Step 4
Melissa will sell the horse when it reaches a value of €200. If the pattern continues, in what year will she sell the horse?
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Answer
If the horse continues to lose value at the same rate of €50 per year, Melissa will sell the horse in 2013, when the value reaches €200.
Step 5
James bought a horse for €700 in 2007. His horse loses value at a constant rate. It was worth €100 in 2011. Mark these two points on the graph above, and join them with a straight line.
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Answer
Mark the point for James’s horse at €700 in 2007, then another point at €100 in 2011. Draw a straight line between these two points to represent the linear depreciation of James’s horse.
Step 6
In what year will the two horses have the same value? What is that value?
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The two horses will have the same value in 2009, with a value of €400. This can be observed from the calculations based on the depreciation rates of both horses.
Step 7
Louise examines the graph and says 'looking at the slopes of the lines, I can tell which horse loses value faster'. Explain in your own words what Louise means.
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Louise implies that the steepness of the slope in the graph indicates the rate of value loss. A steeper slope suggests a quicker depreciation in value, while a gentler slope indicates slower loss. Therefore, by comparing the slopes of the lines for both horses, one can determine which horse loses value at a faster rate.
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