Jeshu purchased a bike by paying Rs. 52,000. If the value depreciates by 2% every year, find the value of the bike after 3 years.

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Solution

Given : Original price of bike $P = 52, 000$
Rate of depreciation $= 2$ i.e. $R = 2$ and $n = 3$
To find $A$
We know that,
$A = P {(1 - \frac{R}{100})}^{n}$
$= 52000 {(1 - \frac{2}{100})}^{3}$
$= 52000 {(1 - \frac{2}{100})}^{3}$
$= 52000 \times (0.98)^{3}$
$= 48941.98 = 48942$
Hence, the value of the bike after $3$ years will be Rs. $48, 942$ .

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Jeshu purchased a bike by paying Rs. 52,000. If the value depreciates by 2% every year, find the value of the bike after 3 years.

Given : Original price of bike P=52,000Rate of depreciation =2 i.e. R=2 and n=3To find AWe know that, A=P(1−R100)n =52000(1−2100)3 =52000(1−2100)3 =52000×(0.98)3 =48941.98=48942Hence, the value of the bike after 3 years will be Rs. 48,942.