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Question

The value of a car, bought for ₹4,40,000 depreciates each year by 10% of its value at the beginning of that year. So, its value becomes ₹3,08,000 after three years.

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Solution

The value of a car i.e. principal = ₹4,40,000
Rate of depreciation (R%) = 10% per annum
Time period (T) = 3 yr
The value of the car after depreciation in 3 yr is given by
A=P(1R100)r=4,40,000(110100)3=4,40,000×910×910×910=440×729= 3,20,760

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