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Question
The cost of a T.V. was quoted Rs 17,000 at the beginning of the year 1999. In the beginning of 2000 the price was hiked by 5%. Because of decrease in demand the cost was reduced by 4% in the beginning of 2001. What is the cost of the T.V. in 2001?
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Solution
Vn =?; V0 =Rs 17,000 ; t = 2 years (1 for increment and 1 for decrement); r = 5 % tor increase and 4% tor decrease.
`"V"_"n" = "V"_0 (1 + "r"/100)^"n" (1 - "r"/100)^"n"`
`"V"_"n" = "Rs" 17000 (1 + 5/100) (1 - 4/100)`
Vn = Rs 17, 000 x 1. 05 x 0. 96
Vn = Rs 17136
The cost of the T.V. in 2001 is Rs 17, 136.
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