Question

Rohit bought a car for₹3,00,000 . Its value of the car depreciates bye 8% per annum. If he wishes to sell the car after 4 years, how much would it fetch.​

Answer 1

Solution:

It is given that:

Rohit has bought a car for ₹3,00,000.

The value of car depreciates 8% per annum.

He wishes to sell the car after 4 year.

To find:

How much would it fetch ?

Solution:

Here first for finding how much would it fetch,

we need to put the formula

So,

$fetched \: \: \: amount \: = p(1 - \frac{r}{100} ) {}^{n}$

$₹3,00,000 \: ( \frac{23}{25} \times \frac{23}{25} \times \frac{23}{25} \times \frac{23}{25} )$

$= 214917.888$

Hence, it will fetch Rs. 214917.888

Additional Information:

Always remember :

P stands for : Principal

R stants for : Rate of interest

N stands for: Number of years/months

• Money paid regularly at a particular rate for the use of money which is lent , is known as interest.