A scooter was bought at Rs 42,000. Its value depreciated at the rate of 8% per annum.

Question

A scooter was bought at Rs 42,000. Its value depreciated at the rate of 8% per annum. Find its value after one year.

Philoid · Accepted Answer

Here, Principal (P) = Rs. 42,000, Rate of Interest (R) = 8%, Time, n = 1 years

Amount (A) =

= Rs. 38,640

Hence, the value of scooter after one year is Rs. 38,640.