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ICSE Class 8 Answered

A car was bought in 2013 for Rs300000 If the value of the car depreciates by 5% each year, find its worth in the year 2016
Asked by guptaarti827352 | 17 Jan, 2019, 11:17: AM
answered-by-expert Expert Answer
In 2014, worth of car = 300000 -[ 300000×(5/100) ] = Rs. 2,85,000
 
In 2015, worth of car = 285000 - [ 285000×(5/100) ] = Rs. 2,70,750
 
In 2016, worth of car = 270750 - [ 270750×(5/100) ] = Rs. 2,57,212.50
 
There is direct formula to calculate the depreciation :-    A = P× [ 1 - (r/100) ]n
 
where A is the final value after n years, P is initial value and r is rate of depreciation
 
using the above formula, A = 300000×[ 1 - (5/100) ]3 = 300000×(19/20)×(19/20)×(19/20) = Rs. 2,57,212.50
Answered by Thiyagarajan K | 17 Jan, 2019, 10:02: PM

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