ICSE Class 9 Answered
Amol bought a plot of land for Rs. 70,000 and a car for Rs. 32,000 on the same day. The value of the plot appreciates uniformly at the rate of 10% every year while the value of the car depreciates by 12.5% for the first year and by 10% for the second year. If Amol sells the plot of land as well as the car after 2 years, what will be the profit or loss on the whole?
Asked by Topperlearning User | 31 Jul, 2017, 02:52: PM
Expert Answer
For plot of land
Cost = Rs. 70,000; increase rate = 10% and time = 2 years
Cost after 2 years
For Car
Cost = Rs. 32,000; r1 = - 12.5%; r2 = -10% and time = 2 years
Cost after 2 years
Total Investment
= Rs. 70,000 + Rs. 32,000 = Rs. 1,02,000
Total value after 2 years = Rs. 84,700 + Rs. 25,200 = Rs. 1,09,900
∴ Total profit = Rs. 1,09,900 - Rs. 1,02,000 = Rs. 7,900
Answered by | 31 Jul, 2017, 04:52: PM
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