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Q.

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


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a

Rs. 32,767

b

Rs. 33,482

c

Rs. 38,640

d

Rs. 38,320 

answer is C.

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Detailed Solution

Concept- Since the rate is compounded annually, we will use the formula for compound interest which is: A=P 1− r 100 n  
where, A = Compound interest
P = Principal amount
R = Rate of depreciation
n = no. of years
Here,
P = Rs. 42,000
R = 8% per annum
n = 1 year
So, the equation becomes:
A=42000 1− 8 100 1 A=42000−42000× 8 100 A=42000−3360 A=38640  
Hence, the correct option is 3) Rs. 38640
 
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