A car is bought at 450000. Its value depreciates at the rate of 5% per annum, find its value after 2 years.
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A car is bought at 450000. Its value depreciates at the rate of 5% per annum, find its value after 2 years.
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The value of the car after 2 years is 406125.
Step-by-step explanation:
Here, the value of the car is 450000
Its value depreciates at the rate of 5% per annum.
So, the value of the car after 1 year be
Again, the value of the car after another 1 year be
∴ the value of the car after 2 years be 406125.