Question

Question 12
A scooter was bought at Rs 42,000.It's value depreciated at the rate of 8% per annum. Find its value after one year.

Answer 1

Here, Principal (P) = Rs 42,000 Rate of Interest (R)= 8% Time (n) = 1 years
Amount (A) = ${(1-\frac{R}{100})}^n=506000{(1-\frac{8}{100})}^1=42000{(1-\frac{2}{25})}^1$
$=42000{\left(\frac{23}{25}\right)}^1=42000\times \frac{23}{25}Rs.38,640$
Hence, the value of scooter after one year is Rs 38,640.