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Question
The value of the refrigerator which was purchased 2 years ago, depreciates at 12% per annum. If its present value is Rs 9,680. For how much was it purchased?
Solution
Vn =Rs 9,680; V0 =?; r = 12% ; t = 2 years
`"V"_"n" = "V"_0 (1 - "r"/100)^"n"`
Rs 9680 = V0 `(1 - 12/100)^2`
V0 = Rs `9680 xx 100/88 xx 100/88`
V0 = Rs 9, 680 x 1.136364 x 1.136364
V0 = Rs 12,500
The refrigerator was purchased for Rs 12,500
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