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Question
Kanchan purchased a Maruti car for Rs.2,45,000/- and the rate of depreciation is `14 2/7 %` per annum. Find the value of the car after two years?
Solution
Given, the purchase price of the car = V
= ₹ 2,45,000
Rate of depreciation per annum = r
= `14 2/7%`
= `100/7%`
∴ Value of the car after two years = V`(1 - "r"/100)^"n"`
= `2,45,000 (1 - (100/7)/100)^2`
= 2,45,000`(1 - 1/7)^2`
= 2,45,000 × `36/49`
= 1,80,000
∴ Value of the car after two years is ₹ 1,80,000.
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