The value of a refrigerator which was purchased 2 years ago, depreciates at 12% per annum. If its present value is Rs. 9680, for how much was it purchased?
Given,
Present value of refrigerator = Rs. 9680
Rate of depreciation = 12%
Let price of it 2 years ago = Rs.X
So,
= 
= X
= X = 
= 12500
Hence,
Price of refrigerator 2 years ago was = Rs.12500
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