Question

The price of a scooter depreciates by 2% of its value at the beginning of each year. Find the sale value of the scooter after 3 years , if it's present sale value is ₹12000.

Answer 1

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Answer 2

Given that,

Principal value =12000

Interest rate = 2%

Time = 3 years

We need to calculate the sale value of the scooter

Using formula of amount

$A=P(1-\dfrac{r}{100})^n$

Where, P = Principal value

r = Interest rate

n = time

Put the value into the formula

$A=12000(1-\dfrac{2}{100})^{3}$

$A=11294.3\ Rs$

Hence, The sale value of the scooter is Rs 11294.3