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Select the correct answerThe price of a car depreciates in the first year by 25% in the second year by 20% in the third year by 15% and so on. The final price of the car after 3 years, if the present cost of the car is Rs. 10,00,000:Options5, 10,0007, 80, 0006, 90,0001, 70,000

Question

Select the correct answerThe price of a car depreciates in the first year by 25% in the second year by 20% in the third year by 15% and so on. The final price of the car after 3 years, if the present cost of the car is Rs. 10,00,000:Options5, 10,0007, 80, 0006, 90,0001, 70,000

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Solution

The depreciation of the car's value is calculated as follows:

  1. After the first year, the car's value depreciates by 25%. So, the value of the car after the first year is 75% of Rs. 10,00,000, which is Rs. 7,50,000.

  2. In the second year, the car's value depreciates by 20%. So, the value of the car after the second year is 80% of Rs. 7,50,000, which is Rs. 6,00,000.

  3. In the third year, the car's value depreciates by 15%. So, the value of the car after the third year is 85% of Rs. 6,00,000, which is Rs. 5,10,000.

So, the correct answer is Rs. 5,10,000.

This problem has been solved

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