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The present value of a car is Rs. 360000...

The present value of a car is Rs. 360000. If the value of the car decreases at the rate of 10% in the first year and in the next every year the rate of decrease is 20% per year. Then find the value of car after 3 years.

Text Solution

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The present value of the car `=Rs. 360000`
The value of the car will be after one year `=Rs. 360000xx(1-10/100)^(1)`
`=Rs. 360000xx(1-1/10)`
`=Rs. 360000xx9/10=Rs. 324000`
After 2 years more, the value of the car will be `Rs. 324000xx(1-20/100)^(2)`
`=Rs.324000xx(1-1/5)^(2)`
`=Rs. 324000xx(4/5)^(2)`
`=Rs. 207360`
Hence the value of the car will be Rs. 207360 after 3 years.
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