The cost of a car purchased 2 years ago depreciates at the rate of 20% – InterviewSolution

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1.	The cost of a car purchased 2 years ago depreciates at the rate of 20% per year. If its present value in 315600; find:1. its value after 2 years.2. its value when it was purchased 2 years ago.
Answer» Let the original price of the car be Rs xDepreciation, R= 20% paTime period, n = 2 yearsValue of car after depreciation, A = Rs 2,08,000Recall the formula, A = P[1 – (r/100)]n208000 = x[1 – (20/100)]2= x[80/100]2= x[16/25]Therefore, x = (208000) × (25/16) = 325000Hence original price of the car is Rs 3,25,000.

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