A machinery depreciates each year by 3% of its value at the beginning of each year. if it's present value is 94090,find it's value two year back
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Value Of Machinery = 94090
Rate of Depreciation = 3% p.a.
Value of machinery 2 years back
=> 94090 (1+3/100)²
= 94090×103/100×103/100
=> Rs. 99820.08
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