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Question

A clock manufacturer decreases the price of a particular model by 6% each year. If the current price of the model is ₹4,500, then what would be the price after 2 years?


A

₹4,993 (approx)

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B

₹5,026 (approx)

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C

₹5,093 (approx)

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D

₹5,103 (approx)

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Solution

The correct option is C

₹5,093 (approx)


Here, V = current value = ₹ 4,500, n = 2 years, r = 6%,

Let, V2 = Price after 2 years

Using V=V2(1r100)n,
4500=V2(16100)2 4500=V2(94100)2

V2=4500×(10094)2 V2=5,093 (approx)


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