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Question
The value of a property decreases every year at the rate of 5%. If its value at the end of 3 years be Rs 44,540, what was the original value at the beginning of these 3 years?
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Solution
Vn =Rs 44,540 ; V0 =? ; r = 5 % ; t = 3 years
`"V"_"n" = "V"_0 (1 - "r"/100)^"n"`
Rs 44540 = V0 `(1 - 5/100)^3`
V0 = Rs `44540 xx 100/95 xx 100/95 xx 100/95`
V0 = Rs 44, 540 x 1. 052632 x 1. 052632 x 1. 052632
V0 = Rs 51,949.26
The original value of the property was Rs 51,949.26
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