Question

the cost of an article goes down every year by 15% of its previous value find the original price if the cost of the article after 2 years is ₹10,115

Answer 1

Given data :

• The cost of an article goes down every year by 15% of its previous value.
• The original price if the cost of the article after 2 years is ₹ 10,115.

To find : The original price of an article ?

Solution : Now, according to given,

⟹ A = ₹ 10115

⟹ r = 15 %

⟹ t = 2 years

Now, by formula, we know that, the cost of an article goes down every year by 15%, hence

⟹ A = P [ 1 - ( r/n ) ]^( t )

Where,

• A = final amount ( after two years )
• P = initial principal balance ( original price )
• r = interest rate
• n = number of times interest applied per time period
• t = number of time periods elapsed ( in year )

Now,

⟹ A = P [ 1 - ( r/n ) ]^( t )

⟹ 10115 = P * [ 1 - ( 15/100 ) ]²

⟹ 10115 = P * [ ( 100 - 15 )/100 ]²

⟹ 10115 = P * [ 85/100 ]²

⟹ 10115 = P * 7225/1000

⟹ 10115 = P * 0.7225 i.e.

⟹ P = 10115/0.7225

⟹ P = ₹ 14000

Answer : Hence, the original price of an article is ₹ 14000.

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