The cost of a machine is supposed to depreciate each year at 12% of its value at the beginning of the year. If the machine is valued at Rs. 44,000 at the beginning of 2008, find its value :
(i) at the end of 2009.
(ii) at the beginning of 2007.
The value of an article decreases for two years at the rate of 10% per year and then in the third year it increases by 10%. Find the original value of the article, if its value at the end of 3 years is Rs. 40,095.
According to a census taken towards the end of the year 2009, the population of a rural town was found to be 64,000. The census authority also found that the population of this particular town had a growth of 5% per annum. In how many years after 2009 did the population of this town reach 74,088 ?
- Concept of Compound Interest - Compound Interest as a Repeated Simple Interest Computation with a Growing Principal
- Concept of Compound Interest - Use of Compound Interest in Computing Amount Over a Period of 2 Or 3-years