The cost of a car purchased 2 years ago, depreciates at the rate of 20% every year. If its present worth is Rs 315600, find its value after 3 years.
Answer & explanation
Correct answer: option 4
The correct answer is option (4) : 161587.20
Given $P=₹315600$
$n= 3years $
$i = 0.2$
So, $S= 315600 (1-0.2)^3$
$= 315600×(0.8)^3$
$= S= 161587.20$