The value of a machine depreciates at the rate of 10% p.a. It was purchased
3 years ago. If its present value is Rs 43740, at what price was it purchased?
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Answer:
Given: P=Rs. 43740, n = 3 years ago and R=10%
Purchase price =P(1−R/100)^-n
=43,740(1−10/100)^−3
=43,740(0.90) ^−3
=60,000
Thus, the purchase price of the machine was Rs. 60,000 .
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