Question

The value of a bike is depreciating at the rate of 20% per annum If the value of the bike is to 145000. What will be its value after 3 years?

Answer 1

Solution:-

cost of bike (P)= ₹ 145000

Time= 3 years

Rate of depreciation = 20 %

Amount = P【1- r%/100】ⁿ

= 145000【20/100】³

= 145000 * 2/10 *2/10 *2/10

= 145 * 8

= 1160

Therefore, Amount = ₹ 1160

Hence, value of the bike after 3 years = ₹(145000+1160)= ₹146160.

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