Question

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The price of a scooter depreciates by 2% of its value at the beginning of each year. Find the sale value of the scooter after 3 years , if it's present sale value is ₹12000.​

Answer 1

GIVEN

• Principal value = 12000
• Interest rate = 2%
• Time = 3 years

TO FIND

• Sale value of the scooter

Formula Used

A = P(1 − r/100)ⁿ

Where,

• P = Principal value
• r = Interest rate
• n = Time

CALCULATION

Putting the value into the formula

• A = 12000 (1 − 2/100)³
• A = 12000 × (98/100)³
• A = 12000 × 0.941192
• A = Rs. 11294.3

‡ The sale value of the scooter is Rs 11294.3

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Answer 2

Answer:

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• Principal value = 12000
• Interest rate = 2%
• Time = 3 years

TO FIND

• Sale value of the scooter

Formula Used

• A = P(1 − r/100)ⁿ

Where,

• P = Principal value
• r = Interest rate
• n = Time

CALCULATION

Putting the value into the formula

• A = 12000 (1 − 2/100)³
• A = 12000 × (98/100)³
• A = 12000 × 0.941192
• A = Rs. 11294.3

‡ The sale value of the scooter is Rs 11294.3