Question
Mathematics Question on Compound Interest
A scooter was bought at Rs 42,000. Its value depreciated at the rate of 8% per annum. Find its value after one year.
Answer
Principal=Costpriceofthescooter=Rs42,000
Depreciation = 8 % of Rs42,000 peryear
= Rs (42000×8×1001)
= Rs 3360
Value after 1 year
= Rs 42000- Rs 3360
= Rs 38,640