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The value of a car depreciates every year at the rate of 10% on its value at the beginning of the year. If the present value of the car is ₹52,488, its worth four years ago was - Mathematics

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MCQ

The value of a car depreciates every year at the rate of 10% on its value at the beginning of the year. If the present value of the car is ₹52,488, its worth four years ago was

Options

  • ₹ 68.232

  • ₹ 68.234

  • ₹ 69.862

  • ₹ 80,000

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Solution

₹ 80,000

Explanation:

Present Value of car = ₹ 52,488

Depreciated Rate = 10% p.a

Time = 4 year

Initial Value = p

`52488="P"[1-10/100]^4`

P = ₹ 80,000

Concept: Simple and Compound Interest
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