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Kalyan purchased an old bike for Rs. 120...

Kalyan purchased an old bike for Rs. 12000. If its cost after 2 years is Rs. 11524.80, the rate of depreciation is _____.

A

1 % per annum

B

4% per annum

C

3% per annum

D

2% per annum.

Text Solution

Verified by Experts

The correct Answer is:
D
Use the formula for depreciation.
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