When an asset loses value by an annual percentage, it is known as Declining Balance Depreciation.
For example, if you have an asset that has a total worth of 10,000 and it has a depreciation of 10% per year, then at the end of the first year the total worth of the asset is 9,000.
With this in mind, at the end of the next year the depreciation value is 900. The next again year the depreciation value is 810, and so on.
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