The value of a property decreased every year at the rate of 5% if its present value is rs 411540 what was its value 3 yrs ago
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value of the car after 3 years= A = 411540
Rate of Depreciation= i = 5%
Duration = n = 3 years
Original Price = ?
we know that
A = P(1-i)^n
411540 = P ( 1 - 5/100)^3
411540 = P( 1- 0.05)^3
411540 = P(0.95)^3
411540 = P(0.857375)
411540/0.857375 = P
480000 = P = Original Price
Rate of Depreciation= i = 5%
Duration = n = 3 years
Original Price = ?
we know that
A = P(1-i)^n
411540 = P ( 1 - 5/100)^3
411540 = P( 1- 0.05)^3
411540 = P(0.95)^3
411540 = P(0.857375)
411540/0.857375 = P
480000 = P = Original Price
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