The cost of a sewing machine is Rs 7,000. Its value depreciates at 8% p.a. What will be the cost of the
machine after 1 years?/
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1
Answer:
The given statement is true.
Value of machine after 1
st
year =Rs 7000(1−
100
8
)
=Rs 7000(
100
92
)=Rs 6,440
Value of machine after 2
nd
year =Rs 6440(1−
100
8
)
=Rs 6440(
100
92
)=Rs 5924.80
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