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Question
The value of a machine depreciates at 10% per year. If the present value is ₹ 1,62,000, what is the worth of the machine after two years?
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Solution
Present value of the machine = ₹ 1,67,000
Rate of depreciation = 10% per annum
Time (n) = 2 years
For 1 year depreciation amount = `(1,62,000 xx 1 xx 10)/100` = ₹ 16,200
Worth of the machine after one year = Worth of Machine – Depreciation
= 1,67,000 – 16,200
= 1,45,800
Depreciation of the machine for 2nd year
= `145800 xx 1 xx 10/100` = 14580
Worth of the machine after 2 years
= 1,45,800 – 14,580
= 1,31,220
∴ Worth of the machine after 2 years = ₹ 1,31,220
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