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Krishna purchased an old Scooter for $ 8000 if its cost after 2 years is $ 6480 what is the rate of depreciation ??
Krishna purchased an old Scooter for $ 8000 if its cost after 2 years is $ 6480 what is the rate of depreciation ??
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Given, Principal = 8000, A = 6480, Time n = 2 years.
It was asked for rate of depreciation.
We know that A = P(1 - r/100)^n
⇒ 6480 = 8000(1 - r/100)^2
⇒ 6480/8000 = (1 - r/100)^2
Take the common factor '80', we get
⇒ 81/100 = (1 - r/100)^2
⇒ (9/10)^2 = (1 - r/100)^2
⇒ 9/10 = (1 - r/100)
⇒ (9/10) - 1 = -r/100
⇒ -1/10 = -r/100
⇒ 1/10 = r/100
⇒ 100 = 10r
⇒ r = 10.
Therefore, rate of depreciation = 10%.
Hope it helps! ------ > Good luck!
Here's the answer:
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¶¶¶ Points to remember :
When Interest is compounded Annually,
where, P = Principal
Rate = R% per annulment
Time = n years
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SOLUTION :
Given:
Compound Interest on a sum of 8000₹ at a certain rate of interest compounded annually for 2 years is 6480
Amount = Compound Interest = 6480₹
Principal P = 8000₹
Time n = 2 years
let rate per annum = r%
Substitute in Formula
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^^^ Here, the -Ve sign shows that it is a rate of depreciation.
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Hope it helps