Question

A scooter was bought at 42,000. Its value
depreciated at the rate of 8% per annum.
Find its value after one year.​

Answer 1

AnswEr :

• The value of the scooter after 1 year is Rs 38640.

Given :

•Principal (P) = Rs 42,000

• Interest rate (R) = 8%

• Time (n) = 1 year

To Find :

• Value of scooter after 1 year = ?

Solution :

By using the formula,

$\dashrightarrow \rm \ \ \ Amount = P \bigg( \dfrac{1-R}{100} \bigg)^n$

$\dashrightarrow \rm \ \ \ A= 42000 { \bigg( \dfrac{1 - 8}{100} \bigg)}^{1}$

$\dashrightarrow \rm \ \ \ A=42000 \bigg( \dfrac{1 - 2}{25} \bigg)$

$\dashrightarrow \rm \ \ \ A= \bigg(\dfrac{42000 \times 23}{25} \bigg)$

$\dashrightarrow \rm \ \ \ A= 1680 \times 23$

$\dashrightarrow \rm \ \ \ { \underline{ \boxed{ \rm{ \blue{A= 38640}}}}} \ \bigstar$

Hence, the value of the scooter after one year is Rs 38640.

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★ Additional Information :

• Compound interest is the addition of interest to the principal sum of deposit or it may be loan .

The formula for compound interest is,

$\large\dag \ \ {\boxed{\rm{A = P \bigg({1 + \dfrac{r}{n} \bigg)}^{nt}}}}$

Where,

• A = Final amount

• P = principal balance

• r = interest rate

• n = no. of times interest applied .

• t = no. of time periods elapsed

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