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Question

# A machine was purchased 3 years ago. Its value decreases by 5% every year. Its present value is Rs.23000. For how much money was the machine purchased?

A
Rs.16828.45
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B
Rs.26826.07
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C
Rs.36828.56
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D
Rs.46828.80
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Solution

## The correct option is B Rs.26826.07Given, Depreciated value A=Rs.23,000Rate of depreciation R=5%Time T=3 yearsSo, n=3let the machine was purchased in Rs.PDepreciated value,A=P(1−R100)n⇒23000=P×(1−5100)3⇒23000=P×(1−120)3⇒23000=P×(1920)3⇒23000=P×1920×1920×1920⇒P=23,000×2019×2019×2019⇒P=26,826.07 Therefore, the machine was purchased for Rs.26,826.07.

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