Present price of a machine is rupees 2p and if price of the machine decrease by 2% in each year the price of machine after 2n yrs willbe
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- price after nyrs=p(1-r/100)^n
- where p is 2p,r is rate of decrease I.e. 2%, n is no of yrs (2 yrs)
- Substituting 2(1-2/100) ^2 we get 1.9208
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