5. A car was bought 3 years ago at a price of 60,00,000. If the rate of depreciation is 20% per year, find the present value of the car.
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Step-by-step explanation:
given:
. A car was bought 3 years ago at a price of 60,00,000. If the rate of depreciation is 20% per year, find the present value of the car.
to find :
find the present value of the car.
solution :
- initial cost. = 60,00,000
- after 1 year = 60,00,000-(20/100 ×60,00,000) 48,00,000
- after 2 years = 48,00,000-(20/100 ×48,00,00
- 0)->38,40,000
- after 3 years = 38,40,000-(20/100 × 38,40,00
- 0)->30,72,000
- after depreciation, 80% =0.8 times after 3 yrs = 0.8 x 0.8 x 0.8 x 60,00,000= 30,72,000
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