Question

The present cost of a mobile phone is 15000. If its value decreases every year by 5%, find its cost
2 years ago.​

Answer 1

Step-by-step explanation:

Let the past cost to be x

Present cost of mobile = 15000

Rate of decrease = 5%

Time = 2 year

A/Q,

Present cost = past cost of mobile × (1- r/100)^n

15000 = x × (1-5/100)²

15000 = x × (1-1/20)²

15000 = x × (21/20)²

15000 = x × 21/20×21/20

x = 15000×20/21×20/21

= 15000 × 400/441

= 13,605.44

Thus, the cost price of mobile 2 year ago is ₹13,605.44

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