Question

If the value of a car is depreciated by 9% of the current value annually, what will be its
estimated value at the end of 8 years, if its current value is 2,00,000?

Plz answer ....​

Answer 1

Answer:

The value of car after 8 years is Rs 102,640

Step-by-step explanation:

Given as :

The present value of car = Rs 200000

The value of car depreciated at the rate = 8%

The value of car after 8 years = Rs x

According to question

value of car after 8 years =  present value of car × $(1-\dfrac{rate}{100})^{time}$

Or, x = Rs 2,00,000 × $(1-\dfrac{8}{100})^{8}$

Or , x = Rs 2,00,000 × $(\dfrac{100-8}{100})^{8}$

Or, x = Rs 2,00,000 × $(\dfrac{92}{100})^{8}$

Or, x = Rs 2,00,000 × 0.5132

or, x = Rs 102,640

∴ value of car after 8 years = Rs 102,640

Hence, The value of car after 8 years is Rs 102,640 Answer