Question

a property decreases in value every year at the rate of 6 1/4% of its value at the beginning of the year its value at the end of 3 years was rs.21093. find its value at the beginning of the first year?

Answer 1

The rate of decrement of the property is 6(1/4) percent, that is, 25/4 percent or simply 1/16.

After the end of three years, the value of property becomes Rs.21093.

Assuming that its value at beginning of the year is x, therefore x * 15/16 * 15/16 * 15/16= 21093.

Calculating further we will get x = 25600.24

Hence, the value of the property at the beginning was Rs. 25600.24