Question

A scooter was bought at ₹42,000. Its value is depreciated at the rate of 8% per annum. Find its value after one year.

Answer 1

Principal (P) = Cost of price of scooter $=₹42,000$
Depreciation = 8% of ₹42,000 per year
$=\frac{P\times R\times T}{100}=\frac{42,000\times 8\times 1}{100}$
Amount depreciated after 1 year = ₹3,360

Cost of price of scooter = ₹42,000
Amount depreciated after 1 year = ₹3,360
The value of scooter after 1 year = ₹(42,000 - 3,360) = ₹38,640