Question

the value of a car depreciates at the rate of 15% per year. if the car was bought for 9,50,000 two years ago, find the present value of the car.​

Answer 1

★ Given :

Value of car depreciates at rate of - 15% per year

Car was bought for - 9,50,000 two years ago

★ To find :

present value of car

★ Solution :

Assume value of car 1 year ago as x

x = 9,50,000 - 15% of 9,50,000

$x = 9,50,000 - \left(\frac{15}{\cancel{100}} \times \cancel{9,50,000}/right)$

$x = 9,50,000 - ( 15 \times 9500)$

$x = 950000 - 142500$

$x = 807500$

Assume present value of car as y

y = 8,07,500 - 15% of 8,07,500

$y = 8,07,500 - \left(\frac{15}{\cancel{100}} \times \cancel{8,07,500}/right)$

$y = 8,07,500 - ( 15 \times 8075)$

$y = 807500 - 121125$

$y = 6,86,375$

Answer - ₹ 6,86, 375

Answer 2

★ Given :

Value of car depreciates at rate of - 15% per year

Car was bought for - 9,50,000 two years ago

★ To find :

present value of car

★ Solution :

Assume value of car 1 year ago as x

x = 9,50,000 - 15% of 9,50,000

x = 9,50,000 - \left(\frac{15}{\cancel{100}} \times \cancel{9,50,000}/right)

x = 9,50,000 - ( 15 \times 9500)x=9,50,000−(15×9500)

x = 950000 - 142500x=950000−142500

x = 807500x=807500

Assume present value of car as y

y = 8,07,500 - 15% of 8,07,500

y = 8,07,500 - \left(\frac{15}{\cancel{100}} \times \cancel{8,07,500}/right)

y = 8,07,500 - ( 15 \times 8075)y=8,07,500−(15×8075)

y = 807500 - 121125y=807500−121125

y = 6,86,375y=6,86,375

Answer - ₹ 6,86, 375 .