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A scooter was bought at $Rs.\ 42,000$. Its value depreciated at the rate of $8$ % per annum. Find its value after one year.
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Given: A scooter was bought at $42,000$. Its value depreciated at the rate of $8$ % per annum.
To do: To find its value after one year.
Solution:
Here as given, Principal amount $( P)=Rs.\ 42,000$, Rate of Interest $( R)=8$%,
Time $( t)=1$ years.
Amount payble $( A)=P( 1-\frac{R}{100})^{t}$
$\Rightarrow A=P( 1−100R)^{1}$
$\Rightarrow A=42000( 1-\frac{8}{100})^1$
$\Rightarrow A= 42000(1+\frac{2}{25})^1$
$\Rightarrow A=42000( \frac{27}{25})^1$
$\Rightarrow A=42000\times\frac{27}{25}$
$\Rightarrow A=Rs.\ 38,640$
Thus, after one year the value of scooter is $Rs.\ 38,640$.
Updated on: 10-Oct-2022
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