Question

If the value of car depreciated by $15\%$ annually. What will be its estimated value at the end of $8$ years; if its present (original) value is $5,00,000$?

Answer 1

Given,Principal amount $P=500000,Rater=15\%$
Estimated value at the end of $8$ years is-

$=5,00,000{(1-\frac{5}{100})}^8$

$=5,00,000\times 0.2724$

$=136,245.26$.