A TV manufacture reduces the price of a particular model by 5% every year. The current price of this model is 8000 rupees. What would be the price after 3 years?

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Solution

Current price of TV, P = Rs.8000

Rate of reduction, r = 5%

Time, n = 3 years

Price of TV after n years can be calculated using the formula

∴ Price of TV after 3 years

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A TV manufacture reduces the price of a particular model by 5% every year. The current price of this model is 8000 rupees. What would be the price after 3 years?

Current price of TV, P = Rs.8000 Rate of reduction, r = 5% Time, n = 3 years Price of TV after n years can be calculated using the formula ∴ Price of TV after 3 years

Current price of TV, P = Rs.8000

Rate of reduction, r = 5%

Time, n = 3 years

Price of TV after n years can be calculated using the formula

∴ Price of TV after 3 years