6. A motorcycle was purchased for 48000. If its value depreciates every year by 10%,
calculate the total depreciation in its value at the end of 3 years.
Answers
Answer:
The final price after three years is Rs. 34992.
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Step-by-step explanation:
Given:-
A motorcycle was purchased for 48000. If its value depreciates every year by 10%,
To find:-
calculate the total depreciation in its value at the end of 3 years.
Solution:-
General method:-
Cost Price if a motorcycle = Rs. 48000
Depreciation value of it every year = 10%
Depreciation value in the first year
=>48000×10%
=>48000×(10/100)
=>48000/10
=>4800
The Cost price of the motor cycle =
48000-4800= Rs.43200
The depreciation value of the motorcycle at the second year.
=10% of 43200
=>43200×(10/100)
=>43200/10
=>4320
The Cost Price of the motor cycle at the end of second year = 43200-4320=Rs. 38880
The depreciation value of the motor cycle at the end of 3rd year
=>10% of 38880
=>38880×(10/100)
=>38880/10
=>3888
The Cost Price of the motor cycle at the end of third year = 38880-3888= Rs. 34992
The total depreciation in the value of motorcycle at the end of 3 years
=>4800+4320+3888
=>Rs.13008
(or)
Initial cost price- Final cost price at the end of 3rd year
=>48000-34992
=>Rs. 13008
(or)
Formula method:-
The initial cost price = 48000
Time = 3 years
depreciation = 10%
P=48000
R=10%
T=n=3
The Cost price at the end of 3 years
= P[1-(R/100)^n
=>48000[1-(10/100)]^3
=>48000[1-(1/10)]^3
=>48000[(10-1)/10]^3
=>48000[9/10]^3
=>(48000×9×9×9)/(10×10×10)
=>48000×729/1000
=>48×729
=>34992
The Cost price = Rs.34992
The depreciation value of the motor cycle at the end of three years
=>48000-34992
=>Rs. 13008
Answer:-
The depreciation value of the given motorcycle at the end of 3 years is Rs.13008
The Cost price of the given motorcycle at the end of 3 years = Rs.33992
Used formulae:-
The Price of an article is P and R% is the depreciation in its value by every year then the value of it at the end of n years = P[1-(R/100)]^n