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A scooter was bought at ₹42,000. its value depreciated at the rate of 8% per annum. Find its value after one year?
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A scooter was bought at ₹42,000. its value depreciated at the rate of ...
Understanding Depreciation
Depreciation is the reduction in the value of an asset over time, often due to wear and tear or obsolescence. In this case, we are calculating the depreciation of a scooter purchased for ₹42,000 at an annual rate of 8%.
Calculation of Depreciation
To find the value of the scooter after one year, we need to calculate the amount of depreciation that occurs over that period:
- Initial Value of the Scooter: ₹42,000
- Depreciation Rate: 8% per annum
Step-by-Step Calculation
1. Calculate the Depreciation Amount:
- Depreciation Amount = Initial Value × Depreciation Rate
- Depreciation Amount = ₹42,000 × 0.08
- Depreciation Amount = ₹3,360
2. Calculate the Value After One Year:
- Value After One Year = Initial Value - Depreciation Amount
- Value After One Year = ₹42,000 - ₹3,360
- Value After One Year = ₹38,640
Final Value of the Scooter
After applying the depreciation for one year, the value of the scooter will be:
- Value After One Year: ₹38,640
This means that after one year, the scooter will be worth ₹38,640, reflecting the impact of the 8% depreciation rate on its original value. Understanding depreciation helps in making informed financial decisions regarding asset management.
Depreciation is the reduction in the value of an asset over time, often due to wear and tear or obsolescence. In this case, we are calculating the depreciation of a scooter purchased for ₹42,000 at an annual rate of 8%.
Calculation of Depreciation
To find the value of the scooter after one year, we need to calculate the amount of depreciation that occurs over that period:
- Initial Value of the Scooter: ₹42,000
- Depreciation Rate: 8% per annum
Step-by-Step Calculation
1. Calculate the Depreciation Amount:
- Depreciation Amount = Initial Value × Depreciation Rate
- Depreciation Amount = ₹42,000 × 0.08
- Depreciation Amount = ₹3,360
2. Calculate the Value After One Year:
- Value After One Year = Initial Value - Depreciation Amount
- Value After One Year = ₹42,000 - ₹3,360
- Value After One Year = ₹38,640
Final Value of the Scooter
After applying the depreciation for one year, the value of the scooter will be:
- Value After One Year: ₹38,640
This means that after one year, the scooter will be worth ₹38,640, reflecting the impact of the 8% depreciation rate on its original value. Understanding depreciation helps in making informed financial decisions regarding asset management.
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A scooter was bought at ₹42,000. its value depreciated at the rate of 8% per annum. Find its value after one year?
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A scooter was bought at ₹42,000. its value depreciated at the rate of 8% per annum. Find its value after one year? 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 A scooter was bought at ₹42,000. its value depreciated at the rate of 8% per annum. Find its value after one year? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A scooter was bought at ₹42,000. its value depreciated at the rate of 8% per annum. Find its value after one year?.
A scooter was bought at ₹42,000. its value depreciated at the rate of 8% per annum. Find its value after one year? 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 A scooter was bought at ₹42,000. its value depreciated at the rate of 8% per annum. Find its value after one year? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A scooter was bought at ₹42,000. its value depreciated at the rate of 8% per annum. Find its value after one year?.
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