Question : The price of the table depreciates every year by 20%. If the value of the table after 2 years will be Rs. 32,000, then what is the present price (in Rs.) of the table?
Option 1: 48,000
Option 2: 44,000
Option 3: 50,000
Option 4: 51,000
Correct Answer: 50,000
Solution :
Let the present value be $x$.
Value after 2 years = $x × (1-\frac{R}{100})^2$, where $R$ is the rate.
$32000 = x × (1-\frac{20}{100})^2$
⇒ $32000 = x × (\frac{4}{5})^2$
⇒ $32000 = x × (0.8)^2$
⇒ $x = \frac{32000}{0.64}$
$\therefore x= 50,000$
Present value = Rs. 50,000
Hence, the correct answer is 50,000.
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