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Question
A machine was purchased 2 years ago. Its value decreases by 10% every year. Its present value is Rs 19,083.60. For how much money was the machine purchased?
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Solution
Vn =Rs 19,083.60; V0 = ? ; r = 10 % ; t = 2 years
`"V"_"n" = "V"_0 (1 + "r"/100)^"n"`
Rs 19,083.60 =`"V"_0 (1 - 10/100)^2`
V0 = Rs `19083.60 xx 10/9 xx 10/9`
V0 = Rs 23560
The machine was purchased for Rs 23,560 i.e. Rs (23,560 - 19083.60) = Rs 4,476.40 more than the present value.
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