A scooter was bought at 42.000. Its value
depreciated at the rate of 8% per annum.
5 31670
.
Find its value after one year.
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PRINCIPAL (P) = Rs 42000
RATE OF INTEREST (R) = 8%
TIME(n) = 1 year
AMOUNT(A)= P ( 1- R/100)^n
= 42000(1- 8/100)^1
= 42000 (1-2/25)^1
= 42000( 27/25)^1
= 42000× 27/25
= Rs 38,640
THEREFORE, the value of scooter after one year is Rs. 38,640.
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