The value of an article is depreciated from Rs 40,000 to Rs 32,400 in
two years. Find the rate of compound depreciation.
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Step-by-step explanation:
40000 = 32400 [ 1 - r/100 ]ⁿ
40000/32400 = [ 1 - r/100 ]²
√(400/324) = 1 - r/100
20/18 = 100 - r/100
111.11 = 100 - r
r ≈ 11.11 %
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