A man bought a land for ₹180000 and a car for ₹320000 at the same time. The blue of the pot of land grows uniformly at the rate of 30% per annum while the value of the car depriciates by 20% in the first year and by 15% thereafter. If he sells the land as well as the car after 3 years what will be his profit or loss

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Solution

Cost of land initially =180000

Rate of increment for 3 yrs = 30 p.a.

Thus total value of land after 3 yrs = Principal +Interest = P +( P×R×T)/100 = 180000 + (180000×3×30)/100

= 180000 + 162000 = 342000

Initially cost of car = 320000

Rate of depreciation for 1 yr = 20 p.a.

Thus value of car after 1 yr = Principal - Depreciated Amount = P - PRT/100 = 320000 - (320000×1×20)/100

=320000-64000 = 256000

Now for next 2 yrs rate of depreciation is 15 p.a.

Thus principal for these 2 yrs = 256000

Thus Value of Car after next 2 yrs= 256000 - (256000×2×15)/100 = 256000-76800 = 179200

Thus total amount after 3 yrs of land and car = 179200 + 342000 = 521200

Initially cost price was 320000 + 180000 = 500000

Thus profit = 521200-500000 = Rs. 21200

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