35 Views

Question : Two years ago, the value of my motorbike was Rs. 62,500. If the value depreciates by 4% every year, its value now is:

Option 1: Rs. 56,700

Option 2: Rs. 57,600

Option 3: Rs. 57,500

Option 4: Rs. 55,700


Team Careers360 16th Jan, 2024
Answer (1)
Team Careers360 19th Jan, 2024

Correct Answer: Rs. 57,600


Solution : Given:
Two years ago, the price of the bike was Rs. 62,500.
Rate of depreciation = 4%
Solution:
Its value depreciates by 4% every year.
Value of the bike 1 year ago = 62500 – 4% of 62500
⇒ Value 1 year ago = Rs. 62500 – $\frac{4}{100}$ × 62500
⇒ Value 1 year ago = Rs. 60,000
Present value of the bike = 60000 – 4% of 60000
⇒ Present value of the bike = Rs. 60000 – $\frac{4}{100}$×60000
⇒ Present value of the bike = Rs. 57,600
Hence, the correct answer is Rs. 57,600.

SSC CGL Complete Guide

Candidates can download this ebook to know all about SSC CGL.

Download EBook

Know More About

Related Questions

Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books