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Question
The value of a car depreciates every year at the rate of 10% on its value at the beginning of the year. If the present value of the car is ₹52,488, its worth four years ago was
Options
₹ 68.232
₹ 68.234
₹ 69.862
₹ 80,000
MCQ
Solution
₹ 80,000
Explanation:
Present Value of car = ₹ 52,488
Depreciated Rate = 10% p.a
Time = 4 year
Initial Value = p
`52488="P"[1-10/100]^4`
P = ₹ 80,000
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Simple and Compound Interest (Entrance Exam)
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