The value of a motorcycle depreciates every year by 4%. What will be i

1.	The value of a motorcycle depreciates every year by 4%. What will be its value after 2 years, if its present value is Rs. 75,000?1. Rs. 69,1202. Rs. 70,1203. Rs. 69,0004. Rs. 72,000
Answer» Correct Answer - Option 1 : Rs. 69,120 Solution: Given data: Present value of motorcycle = Rs. 75,000 Rate of depreciation = 4% Time for depreciation = 2 years Concept used: Final value = Initial value × [(100 – Rate of depreciation)/100]ⁿ Where, n = no. of years Calculation: Final value = Initial value × [(100 – Rate of depreciation)/100]ⁿ ⇒ 75,000 × [(100 – 4)/100]² ⇒ 75,000 × (96/100)² ⇒ 75,000 × (24/25)² ⇒ (75,000 × 576)/625 ⇒ 69,120 ∴ The value of the motorcycle after 2 years will be Rs. 69,120.

The value of a motorcycle depreciates every year by 4%. What will be its value after 2 years, if its present value is Rs. 75,000?1. Rs. 69,1202. Rs. 70,1203. Rs. 69,0004. Rs. 72,000

Answer» Correct Answer - Option 1 : Rs. 69,120

Solution:

Given data:

Present value of motorcycle = Rs. 75,000

Rate of depreciation = 4%

Time for depreciation = 2 years

Concept used:

Final value = Initial value × [(100 – Rate of depreciation)/100]ⁿ

Where, n = no. of years

Calculation:

Final value = Initial value × [(100 – Rate of depreciation)/100]ⁿ

⇒ 75,000 × [(100 – 4)/100]²

⇒ 75,000 × (96/100)²

⇒ 75,000 × (24/25)²

⇒ (75,000 × 576)/625

⇒ 69,120

∴ The value of the motorcycle after 2 years will be Rs. 69,120.

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