Question

A man brought a plot of land for ₹160000 and a car for ₹180000 at the same time. The price of the plot of land grows uniformly at the rate of 25% P.a while the prices of the car depreciates by 20% P.a. if the man sells the pot of land as well as the car after three years, what were be his profit or loss?

Answer 1

Answer:

Times have changed and we can no longer dismiss owning a car as we used to some few years back. Societal dynamics have drastically changed and you would want to really look into these two perspectives clearly.

Land is a great resource and investment that appreciates with time. You can buy one for reselling at a profit in the future. A car helps you get to work in good time, you can meet more moneymaking deals in a day with your own car, and nothing would be great if you had a means to carry your own family around. After all, you need a way of getting home fast enough without making endless queues on bus stops