Ramu purchased a boat for 16000 If the cost of the boats
depreciating at the rate of 5% per annum, calculate its value after
2 years
Answers
Answered by
36
Answer:
cost of boat = 16000
cost of boat after 1 year = 16000 -16000×5/100
= 16000- 800
= 15200
cost of boat after another year = 15200 - 15200×5/100
= 15200- 760
= 14440
Answered by
7
Answer:
14440
Step-by-step explanation:
cost of boat=16000
depreciating rate=5%
time = 2 years
amount=principal (1-rate/100)^time
amount=16000(1-5/100)^2
16000(95/100)^2
16000(95/100)x(95/100)=14440
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