The value of a diamond ring purchased 2 years ago depreciates by 10% ever year. The present value is ₹ 1,21,500.What was the cost price of the diamond ring
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Answer:
Step-by-step explanation:
It is given that
Present value of car = 315600
Rate of depreciation (r) = 20%
(i) We know that
Value of car 2 years ago = A÷(1−r/100)
n
Substituting the values
=315600÷(1−20/100)
2
By further calculation
= 315600×5/4×5/4
= 493125
(ii) We know that
Value of diamond after 3 years = 315600×(1−20/100)
3
By further calculation
= 315600×4/5×4/5×4/5
161587.20
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