The present price of a motorcycle is Rs 225000. If its price is depreciated per year by 8%, after how many years the price of the motorcycle will be Rs 175204.8? Find it.
1 Answer
Given:
The present cost (C) = Rs. 225000
Rate of compound depreciation (R) = 10% p.a
Cost after depreciation (CT) = Rs 175204.8
To find: Time (T)
By Formula,
\(C_T=c\left(1-\frac R{100}\right)^T\)
Or, \(175204.8=225000\left(1-\frac8{100}\right)^T\)
Or, \(\frac{175204.8}{225000}=\left(1-0.08\right)^T\)
Or, \(0.778688=\left(0.92\right)^T\)
Or, \(\left(0.92\right)^3=\left(0.92\right)^T\)
Or, 3 = T
Hence, the required time is 3 years.
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