Question

the value of a property decreases at the rate of 5% every year if the present value is 41150 what was its value three years ago

Answer 1

41150=p(95/100)3

41150 *100*100*100/95*95*95

Answer 2

Answer:

Step-by-step explanation:

You can solve it by reciprocating the multiplying factor of 5%.

Multiplying factor of 5% is 19/20. Just reciprocate it to 20/19. That's it, now:

41150 * 20/19 * 20/19 *20/19

= 47,995.33

Therefore, 3 years ago the value of property was 47,995.33