value the value of a car depreciate 15% every year if the present value of the car is 3 lacs 61215 after 2 year what was the original price of the car find the answer
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value of the car after two years= A = 3,61,215
Rate of Depreciation= i = 15%
Duration = n = 2 years
Original Price = ?
we know that
A = P(1-i)^n
3,61,215 = P ( 1 - 15/100)^2
361215 = P( 1- 0.15)^2
361215 = P(0.85)^2
361215 = P(0.7225)
361215/0.7225 = P
500000 = P = Original Price
Rate of Depreciation= i = 15%
Duration = n = 2 years
Original Price = ?
we know that
A = P(1-i)^n
3,61,215 = P ( 1 - 15/100)^2
361215 = P( 1- 0.15)^2
361215 = P(0.85)^2
361215 = P(0.7225)
361215/0.7225 = P
500000 = P = Original Price
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