The cost of a new washing machine is rs 22000. its value depreciates every year . if the depreciated value of the washing mashine after 2 years is rs 14080 , find the rate of depreciation
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Total amount depreciated in 2 years = Rs.22,000 - Rs 14,080
= Rs.7,920
Depreciation per year = 7920/2 = 3960
Rate of Depreciation = ( 3960/22000) × 100
= 18%
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