A flat is valued at Rs .5,00,000.If its value depreciate at 2% p.a.What will be its value after 3 years?
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Answered by
2
Answer:
The answer to this question is 470596.
Step-by-step explanation:
We can solve this question using the compound interest formula.
According to the question,
The value of a flat is 500000 and its value decreases by 2% per year.
Now we have to find the value of the flat after 3 years.
P = 500000
R = 2%
T = 3 years
A = P ( 1 - R/100)T
A = 500000(1 - 2/100)3
A = 500000( 98/100)3
A = 470596
The value of the flat after 3 years becomes 470596.
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