Every year the value of a surveying machine depreciates by 25% of its value in the previous year.If the value of the machine was $11 250 in 2019 , find its value in 2017
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Answer:
Current value of machine (A) = 11250
Rate of decrease = 25%
Time period = 2 yrs
Value of machine 2 yrs ago = P
A= P(1-r/100)²
A = P(3/4)²
A = P× 27/64
11250×64/27 = P
= Rs 26666.66
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