The value of a property is depreciated to $30,276 from $40,000 in two years.
What is the depreciation rate per annum of the property?
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Given : The value of a property is depreciated to $30,276 from $40,000 in two years.
To Find : What is the depreciation rate per annum of the property
Solution:
Value pf property P = 40000 $
After 2 year A = $ 30276
rate of depreciation = r
A = P (1 - r/100)ⁿ ( -ve sign is for depreciation )
n = 2 years
=> 30276 = 40000 ( 1 - r/100)²
=> 174 = 200 ( 1 - r/100)
=> 0.87 = 1 - r/100
=> 0.13 = r/100
=> r = 13
Rate of depreciation is 13 %
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