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Question
Mohan purchased a house for Rs 30000 and its value is depreciating at the rate of 25% per year. Find the value of the house after 3 years.
Solution
\[ \Rightarrow 30, 000 \left( 1 - \frac{25}{100} \right)^3 \]
\[ = 30, 000 \left( 0 . 75 \right)^3 \]
\[ = 12, 656 . 25\]
Thus, the value of the house after three years will be Rs 12, 656.25.
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