The value of a car is depreciating at the rate of 12%. Find the current value of car when the
cost of car was Rs 350, 000 last year.
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Answer:
Principal (P)=Rs350000
Rate (R)=10%
Time (T)=3 years
Worth of car after 3 years =Rs350000(1−100/10 )³
=Rs350000× 10/9× 10/9 × 10/9
=Rs255150
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