Every year,the value of a car depreciates by 15% of its value in the previous year.
If the value of the car was $86700 in 2013, find its value in 2010
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Answer:
Present Value of = Rs.52,488
Deprtciated value = 10% per annum
Time = 4 years
Initial Value = P
52,488=P[1−
100
10
]
4
P=Rs.80,000
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