1. Teena bought a car for 4,36,000 at the end
of 2011. Its value depreciates at the rate of 15%
each year. She sold her car at the end of 2014
At what price did she sell her car?
Answers
Answer:
Selling price = Rs. 267758.50
Step-by-step explanation:
Given,
cost of the car = Rs. 436000
rate of depreciation = 15% per year
time = 3 years
Since the value of the car depreciates at the rate of 15% each year, the value of the car at the end of 2014 be
= Rs. 436000 × (1 - 15/100)³
= Rs. 436000 × (85/100)³
= Rs. 267758.50
∴ Teena sold the car at Rs. 267758.50
Answer:
Rs.267758.50
Step-by-step explanation:
Our aim is to find what was the price of the car when she sold it.
We are given that the cost of the car was equal to Rs. 436000.
Also its rate of depreciation was 15% annual.
Since we are considering a time of 3 years, we can conclude that the value of the car at the end of 2014 is equal to:
= Rs. 436000 × (1 - 15/100)³
= Rs. 436000 × (85/100)³
= Rs.267758.50
Hence, Teena's car was sold for Rs.267758.50.
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