The value of a machine depreciates at the rate of 10% per annum. It was purchased 3 years ago. If its present value is Rs 43740, find its purchase price.

Explanation

To find the purchase price of the machine, we can use the formula for present value in the context of depreciation. The present value (PV) is given by the formula:

\[ PV = P \times (1 - r)^t \]

Where:
- \(PV\) = Present Value (current value of the machine)
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