Given: Neil bought a house for £235 000
In the first year the value of the house depreciated by 4%
In each of years 2 and 3, the value of the house increased by 6%.
Required: To find out the value of the house at the end of year 3.
Explanation: Since in first year the value of house depreciated by 4%,
[tex]\text{ New price}=235000-\frac{235000\times4\times1}{100}[/tex][tex]undefined[/tex]