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Question

A scooter was bought in April 2005 for Rs 42,000. If its value falls by 10% every year, what will be its value in April 2007?

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Solution

Price of the scooter, P = Rs 42,000
Rate (R) = −10% p.a.
Number of years (N) = 2 years
Depreciated amount=P1+R100N
= 420001+-101002= 420001-1102= 420009102= 42000×910×910= Rs 34020

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