The cost of a scooter depreciates every year by 15% of its value at beginning of the year. If the present cost of the scooter is Rs. 8,000; find its cost (in Rs.) after one year:

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Solution

Cost after depreciation in 'n' years $= Original cost \times {(1 - \frac{R}{100})}^{n}$
So after one year, cost $= R s 8, 000 \times {(1 - \frac{15}{100})}^{1} = 8, 000 \times \frac{85}{100} = R s 6800$

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