Question
Download Solution PDFThe price of a car is Rs. 2,50,000. In the first year, its value depreciates by 10%, and in the second year, it depreciates by 15%. What will be the value of the car after 2 years?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven Data:
Initial price = Rs. 2,50,000
First year depreciation = 10%
Second year depreciation = 15%
Concept:
Final Value = Initial Value × (1 - Depreciation Rate)n
Calculation:
Value after first year = Initial Price × (1 - First Year Depreciation Rate)
⇒ Value = 2,50,000 × (1 - 10/100) = Rs. 2,25,000
Value after second year = Value after First Year × (1 - Second Year Depreciation Rate)
⇒ Value = 2,25,000 × (1 - 15/100) = Rs. 1,91,250
Hence, the value of the car after 2 years will be Rs. 1,91,250.
Last updated on Jun 12, 2025
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