the price of a scooter depreciates at a rate of 2 % every year.find its value after 3 years , if it'spresent value is ₹12000
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Step-by-step explanation:
present value = 12000
rate of depreciation = 2%
so, amount of depreciation= 2% of 12000
= RS. 240 p.a
so, amount of depreciation for 3 yrs. = 240×3
= RS. 720
price of scooter after 3 yrs. = 12000 - 720
= RS. 11280
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