Question

The value of car depreciation by 15% every year if the current value of car is 240000 what will be its value after 3 years

Answer 1

$pf= pi (1-r/100)^t$

pf= final rate

pi= initial rate

r= rate%

t= time

pf= 240000×(85/100)^3

pf= 147390rs.

Answer 2

this is the answer
formula is
$p(1 - \frac{r}{100} ) ^{t}$