A scooter was bought at $Rs.42,000$. Its value depreciated at the rate of $8\% $ per annum. Find its value after one year.
Last updated date: 21st Mar 2023
•
Total views: 308.1k
•
Views today: 3.88k
Answer
308.1k+ views
Hint: Use formula of compound interest $A = P{\left( {1 - \frac{R}{{100}}} \right)^n}$.Compound interest is interest earned in a single year in addition to principal sum.
We have, $P = $ initial principal balance$ = Rs.42,000$
$R = $ Rate of depreciation $ = 8\% $ per annum
Value of scooter after $n$ years$ = P{\left( {1 - \frac{R}{{100}}} \right)^n}$
Value of scooter after $1$ year$ = P{\left( {1 - \frac{R}{{100}}} \right)^1}$
$
\Rightarrow Rs.42,000\left( {1 - \frac{8}{{100}}} \right) \\
\Rightarrow Rs.42,000 \times \frac{{92}}{{100}} \\
\Rightarrow Rs.38640 \\
$
So, the value of a scooter after one year is $Rs.38640$.
Note: whenever we come to these types of problems if the rate of interest is annual and the interest is compounded annually then in such cases we use formula of compound interest and remember for rate of depreciation use negative sign in formula.
We have, $P = $ initial principal balance$ = Rs.42,000$
$R = $ Rate of depreciation $ = 8\% $ per annum
Value of scooter after $n$ years$ = P{\left( {1 - \frac{R}{{100}}} \right)^n}$
Value of scooter after $1$ year$ = P{\left( {1 - \frac{R}{{100}}} \right)^1}$
$
\Rightarrow Rs.42,000\left( {1 - \frac{8}{{100}}} \right) \\
\Rightarrow Rs.42,000 \times \frac{{92}}{{100}} \\
\Rightarrow Rs.38640 \\
$
So, the value of a scooter after one year is $Rs.38640$.
Note: whenever we come to these types of problems if the rate of interest is annual and the interest is compounded annually then in such cases we use formula of compound interest and remember for rate of depreciation use negative sign in formula.
Recently Updated Pages
If abc are pthqth and rth terms of a GP then left fraccb class 11 maths JEE_Main

If the pthqth and rth term of a GP are abc respectively class 11 maths JEE_Main

If abcdare any four consecutive coefficients of any class 11 maths JEE_Main

If A1A2 are the two AMs between two numbers a and b class 11 maths JEE_Main

If pthqthrth and sth terms of an AP be in GP then p class 11 maths JEE_Main

One root of the equation cos x x + frac12 0 lies in class 11 maths JEE_Main

Trending doubts
What was the capital of Kanishka A Mathura B Purushapura class 7 social studies CBSE

Difference Between Plant Cell and Animal Cell

Write an application to the principal requesting five class 10 english CBSE

Ray optics is valid when characteristic dimensions class 12 physics CBSE

Give 10 examples for herbs , shrubs , climbers , creepers

Tropic of Cancer passes through how many states? Name them.

Write the 6 fundamental rights of India and explain in detail

Write a letter to the principal requesting him to grant class 10 english CBSE

Name the Largest and the Smallest Cell in the Human Body ?
