7. The value of a car depreciates annually by 10%. If the present value of the car be 650000 find
its value after 2 years.
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Step-by-step explanation:
present value of car=650000(amount)
Rate=10%(r)
Time=2years(n)
To find the value of car=principal
Amount=Principal×(1-r/100)n
650000=p×(100-10/100)²
650000=p×(90/100)²
650000=p×8100/10000
p=650000×8100/10000[0 will be cancelled]
p=65×8100
p=526500
value of car after 2 years =526500
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