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Question
A new car is purchased for Rs 4, 00,000 .Its value depreciates at the rate of 10% per annum. What will be its value after 4 years?
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Solution
Vn =?; V0 =Rs 4, 00,000; r = 10 % ; t = 4 years
`"V"_"n" = "V"_0 (1 - "r"/100)^"n"`
`"V"_"n" = "Rs" 400000 (1 - 10/100)^4`
Vn = Rs 4, 00, 000 × 0.9 × 0. 9 × 0. 9 × 0.9
Vn = Rs 2,62,440
The value of car after four years will be Rs 2,62,440.
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