Percentage Practice Test 6 with solutions

Question : 27 of 40

Marks: +1, -0

The value of an article depreciates every year at the rate of 16% of its value. If the present value of the article is Rs 1,729, then what was its approximate worth two years ago?

Rs 2,500
Rs 2,350
Rs 2,850
Rs 2,450
Rs 2,900

Validate

Solution:

Let A = Rs 1,729, x = 16% and n = 2 years

∴A=P(1-x/100)^n

1729=P(1-16/100)^2

1729=P(21/25)^2

P={1729×25×25}/{21×21}

P = Rs 2,450 approximately.

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