Question

The value of a card depreciates 20% every year if after 2 years the price of a car is rupees 420000 find the original price of the car

Answer 1

Let the original price of the car be Rs x
Depreciation, R= 20% pa
Time period, n = 2 years
Value of car after depreciation, A = Rs 2,08,000
Recall the formula, A = P[1 – (r/100)]n
208000 = x[1 – (20/100)]2
= x[80/100]2
= x[16/25]
Therefore, x = (208000) × (25/16) = 325000
Hence original price of the car is Rs 3,25,000.
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