Question 33

Vinod purchased a Maruti van for Rs. 1,96,000. Rate of fall of price per year of this van is $$14 \frac {2}{7} $$ %. What will be its price after two years ?

Solution

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The value of the van falls by 14.3% every year. So, the current price is 1.96 x 85.7% x 85.7% = 1.44 lakhs

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