The Value of a machine reduces by 20% every year. If its present value is Rs 24000 ,what was it's value one year earlier?
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Step-by-step explanation:
Price of Machine at present = Rs. 15000
Reducement every year = 20%
Price of machine after a year
= 15000-15000×20%
= 15000-3000
= Rs. 12000
Here, New price = Rs. 12000
Again, Reducement = 20%
therefore, new price of machine
= 12000-12000×20%
= 12000-2400
= Rs. 9600
so, Price of machine after two years
= Rs. 9600
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