Question

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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Answer 1

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