#### Question

A scooter was bought at Rs 42,000. Its value depreciated at the rate of 8% per annum. Find its value after one year.

#### Solution

Principal = Cost price of the scooter = Rs 42,000

Depreciation = 8% of Rs 42,000 per year

= Rs `((42000 xx 8 xx 1)/100)`

= Rs 3360

Value after 1 year = Rs 42000 − Rs 3360 = Rs 38,640

Is there an error in this question or solution?

Solution A Scooter Was Bought at Rs 42,000. Its Value Depreciated at the Rate of 8% per Annum. Find Its Value After One Year. Concept: Applications of Compound Interest Formula.