Question

A scooter was bought at $Rs42,000$. Its value depreciated at the rate of $8\%$ per annum. Find its value after one year.

Answer 1

Price of the scooter $=Rs.420000$

Rate of decpreciation per year $=8\%$

Time $=1$ year

Price of scooter after 1 year is given by

$=42000(1-\frac{8}{100}{)}^1$

$=42000\left(0.92\right)$

$=38640$

Value of the scooter after $1$ year is $Rs.38,640.$