16. A machine was bought at 3 150000. If its value depriciates at a certain rate of 8
(1) find its value after two years.
(ii) find its value in the previous year.
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Step-by-step explanation:
A machine was bought at p =3 150000
depriciation %r= 8%
n = 2 years
value of machine = P(1-r/100) ^n
= 3150000(1-8/100) ^2
=3150000×92/100×92/100
=315×92×92
=2666160
(ii)
value in the previous year
n=1
r=8%
P=3150000
value= 3150000×(1-8/100) ^1
=3150000×92/100
=31500×92
=2898000
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