Question

Every year, the value of a depreciates by 15% of its value in the previous year. If the value of the car was $86, 700 in 2020, find its value in 2018. (just provide the answer with the unit only, no explanation)(Answer in whole number)

Answer 1

Answer

Price of the item at 2019 :

Let the value of the item in 2019 be m.

According to the statement,

$\sf \dashrightarrow m - m \: of \: 15\% = 86700$

$\sf \dashrightarrow m - m \times \dfrac{15}{100} = 86700$

$\sf \dashrightarrow m - \dfrac{15m}{100} = 86700$

$\sf \dashrightarrow m - \dfrac{3m}{20} = 86700$

$\sf \dashrightarrow \dfrac{20m - 3m}{20} = 86700$

$\sf \dashrightarrow \dfrac{17m}{20} = 86700$

$\sf \dashrightarrow 17m = 86700 \times 20$

$\sf \dashrightarrow 17m = 1734000$

$\sf \dashrightarrow m = \dfrac{1734000}{17}$

$\sf \dashrightarrow m = 102000$

Now, we can find the value of the item at 2018.

Price of the item at 2018 :

Let the value of the item in 2018 be n.

$\sf \dashrightarrow n - n \: of \: 15\% = 102000$

$\sf \dashrightarrow n - n \times \dfrac{15}{100} = 102000$

$\sf \dashrightarrow n - \dfrac{15n}{100} = 102000$

$\sf \dashrightarrow n - \dfrac{3n}{20} = 102000$

$\sf \dashrightarrow \dfrac{20n - 3n}{20} = 102000$

$\sf \dashrightarrow \dfrac{17n}{20} = 102000$

$\sf \dashrightarrow 17n = 102000 \times 20$

$\sf \dashrightarrow 17n = 2040000$

$\sf \dashrightarrow n = \dfrac{2040000}{17}$

$\sf \dashrightarrow n = 120000$

Hence, the price of the item at 2018 was ₹120000.