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Straight Line Method(SLM)

A scooter was...

Question

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

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Solution

Principal = Cost price of the scooter = Rs 42,000

Depreciation = 8% of Rs 42,000 per year

Value after 1 year = Rs 42000 − Rs 3360 = Rs 38,640

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