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The value of an article which was purchased 2 years ago, depreciates at 12% per annum. If its present value is Rs.9680, what is the price at which it was purchased?
- a)Rs.10000
- b)Rs.12500
- c)Rs.14575
- d)Rs.16250
Correct answer is option 'B'. Can you explain this answer?
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The value of an article which was purchased 2 years ago, depreciates a...
= Rs.12500
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The value of an article which was purchased 2 years ago, depreciates a...
To solve this problem, we can use the formula for compound interest:
Present Value = Principal * (1 - Rate/100)^n
Where:
- Principal is the initial value of the article
- Rate is the depreciation rate (12% per annum in this case)
- n is the number of years (2 years in this case)
Let's substitute the given values into the formula:
9680 = Principal * (1 - 12/100)^2
Simplifying the equation:
9680 = Principal * (0.88)^2
9680 = Principal * 0.7744
Now, we can solve for the Principal by dividing both sides of the equation by 0.7744:
Principal = 9680 / 0.7744
Principal ≈ 12500
Therefore, the price at which the article was purchased is approximately Rs. 12500.
- The present value is Rs. 9680.
- The depreciation rate is 12% per annum.
- The number of years is 2.
- We use the formula for compound interest to solve the problem.
- Substitute the given values into the formula.
- Simplify the equation.
- Solve for the Principal by dividing both sides of the equation.
- The price at which the article was purchased is approximately Rs. 12500.
Present Value = Principal * (1 - Rate/100)^n
Where:
- Principal is the initial value of the article
- Rate is the depreciation rate (12% per annum in this case)
- n is the number of years (2 years in this case)
Let's substitute the given values into the formula:
9680 = Principal * (1 - 12/100)^2
Simplifying the equation:
9680 = Principal * (0.88)^2
9680 = Principal * 0.7744
Now, we can solve for the Principal by dividing both sides of the equation by 0.7744:
Principal = 9680 / 0.7744
Principal ≈ 12500
Therefore, the price at which the article was purchased is approximately Rs. 12500.
- The present value is Rs. 9680.
- The depreciation rate is 12% per annum.
- The number of years is 2.
- We use the formula for compound interest to solve the problem.
- Substitute the given values into the formula.
- Simplify the equation.
- Solve for the Principal by dividing both sides of the equation.
- The price at which the article was purchased is approximately Rs. 12500.
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The value of an article which was purchased 2 years ago, depreciates at 12% per annum. If its present value is Rs.9680, what is the price at which it was purchased?a)Rs.10000b)Rs.12500c)Rs.14575d)Rs.16250Correct answer is option 'B'. Can you explain this answer?
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The value of an article which was purchased 2 years ago, depreciates at 12% per annum. If its present value is Rs.9680, what is the price at which it was purchased?a)Rs.10000b)Rs.12500c)Rs.14575d)Rs.16250Correct answer is option 'B'. Can you explain this answer? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about The value of an article which was purchased 2 years ago, depreciates at 12% per annum. If its present value is Rs.9680, what is the price at which it was purchased?a)Rs.10000b)Rs.12500c)Rs.14575d)Rs.16250Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The value of an article which was purchased 2 years ago, depreciates at 12% per annum. If its present value is Rs.9680, what is the price at which it was purchased?a)Rs.10000b)Rs.12500c)Rs.14575d)Rs.16250Correct answer is option 'B'. Can you explain this answer?.
The value of an article which was purchased 2 years ago, depreciates at 12% per annum. If its present value is Rs.9680, what is the price at which it was purchased?a)Rs.10000b)Rs.12500c)Rs.14575d)Rs.16250Correct answer is option 'B'. Can you explain this answer? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about The value of an article which was purchased 2 years ago, depreciates at 12% per annum. If its present value is Rs.9680, what is the price at which it was purchased?a)Rs.10000b)Rs.12500c)Rs.14575d)Rs.16250Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The value of an article which was purchased 2 years ago, depreciates at 12% per annum. If its present value is Rs.9680, what is the price at which it was purchased?a)Rs.10000b)Rs.12500c)Rs.14575d)Rs.16250Correct answer is option 'B'. Can you explain this answer?.
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