The value of a motorcycle depreciates every year by 4%. What will be its value after 2 years, if its present value is ₹75,000 ?
Answer & explanation
Correct answer: option 3
4% = \(\frac{1}{25}\)
Motorcycle value after 2 years = \(\frac{24}{25}\) × \(\frac{24}{25}\) × 75000
= Rs. 69120