A car was purchased last years for Rs 415000. Now, its value is Rs 356900. At what rate is the car depreciating?

Answer

To find the rate at which the car is depreciating, we can follow these steps:

### Step 1: Determine the initial and current value of the car.
- Initial value (purchase price) of the car = Rs 415,000
- Current value of the car = Rs 356,900

### Step 2: Calculate the depreciation amount.
- Depreciation amount = Initial value - Current value
- Depreciation amount = Rs 415,000 - Rs 356,900
- Depreciation amount = Rs 58,100

### Step 3: Calculate the rate of depreciation.
- The formula for the rate of depreciation is:
\[ \text{Rate of Depreciation} = \left( \frac{\text{Depreciation Amount}}{\text{Initial Value}} \right) \times 100 \]
- Plugging in the values:
\[ \text{Rate of Depreciation} = \left( \frac{58,100}{415,000} \right) \times 100 \]

### Step 4: Perform the division.
- Calculate \( \frac{58,100}{415,000} \):
\[ \frac{58,100}{415,000} \approx 0.1397 \]

### Step 5: Multiply by 100 to get the percentage.
- Now, multiply by 100:
\[ 0.1397 \times 100 \approx 13.97\% \]

### Step 6: Round the result.
- Rounding 13.97% gives us approximately 14%.

### Final Answer:
The car is depreciating at a rate of **14%**.

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