Question

The value of a car depreciates 12% every year if its present value is 616000 find its value a year ago

Answer 1

Amount = Principal + SI

SI =

$\frac{616000 \times 12 \times 1}{100} \\ 6160 \times 12 \\ 73920$
Amount will be,
616000 + 73920
689920

It's value will be 689920.

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