Question

A bike was bought for ₹84000. Its value depreciated at the rate of 7% per annum. Find its value after three years.

• A. ₹72,576
• B. ₹67,566
• C. ₹65,874
• D. ₹62,867

Answer 1

The correct option is B ₹67,566

Value of the bike after 3 years = $P(1-\frac{R}{100}{)}^n$
= ₹$84000(1-\frac{7}{100}{)}^3$

= ₹$84000(\frac{93}{100}{)}^3$

= ₹$67,565.99$

= ₹$67,566$