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How many years will it take for equipment with an initial value of Rs. $2000$ to reach its scrap value of Rs. $1000$ if depreciation is reducing-balance at $15 %$ p.a. of the current value?

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1

year

2

years

3

years

4

years

answer is C.

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Detailed Solution

The following information is given:
New Value

= 1000

Rate

= 15 % p . a .

Original value

= 2000

Time

= t

According to question,

2000 - \frac{2000 \times 15 \times t}{100} = 1000

\Rightarrow 200000 - 30000 t = 100000

\Rightarrow 200000 - 100000 = 3000 t

\Rightarrow 100000 = 3000 t

\Rightarrow t = \frac{100000}{3000}

On solving, we get

t \approx 3.34 years

.
Therefore, we can say that

t = 3

years.
Hence, the correct option is 3.

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How many years will it take for equipment with an initial value of Rs. 2000 to reach its scrap value of Rs. 1000 if depreciation is reducing-balance at 15%p.a. of the current value?

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How many years will it take for equipment with an initial value of Rs. $2000$ to reach its scrap value of Rs. $1000$ if depreciation is reducing-balance at $15 %$ p.a. of the current value?