The value of a residential flat constructed at a cost of ₹10,00,000 is depreciating at
the rate of 10 % per annum. What will be it’s value after 3 years?
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CP of the flat = ₹10,00,000
Given SP = ₹10,00,000
Rate of depreciation = 10%
Value after 3 years
= 1000000 ( 1 - 10/100 )³
= 1000000 × 9/10 × 9/10 × 9/10
= 1000 × 729
= 729000
Therefore , the value of the residential flat after the given span of time will be ₹7,29,000 .
Note : The formula used is the one used to find compound interest with decreasing rate .
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