Compound Interest Practice Test 2

Question : 32 of 40

Marks: +1, -0

Suman purchased a car worth Rs 6 lakh. If its value depreciates by 5%, 10% and 20% for the first year, second year and third year respectively find the approximate value of the car after 3 years?

4.5 Lakh
5.2 Lakh
4 Lakh
4.8 Lakh
8 Lakh

Validate

Solution:

Value after 3 years

=P(1-5/100)(1-10/100)(1-20/100)

=6,00,000(19/20)(9/10)(4/5)

= Rs 4,10,400 ≈ 4 Lakh

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