8) The value of a car depreciates by 7% each year. How many years it will take for its
value to become half of its original value..
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Answer:
Given:
Let the original price of the car =Rs. x
Percentage of depreciation per year =20%
Time period =2 yrs
Price of a car after two years =Rs. 208000
Amount of depreciation A=P(1−
100
r
)
n
,
here A is the amount after depreciation, r is the rate of depreciation and n is time.
⇒208000=x(1−
100
20
)
2
⇒208000=x(
100
100−20
)
2
⇒208000=x(
100
80
)
2
⇒208000=x(
5
4
)
2
⇒208000=x(
25
16
)
⇒x=208000×
16
25
⇒x=Rs. 325000
∴ Original price of the car =Rs. 325000
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