A house depreciates by 10% of its value at the end of each year. If its initial value of ₱1,000,000 what is its value at the end of the 6th year?
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A house depreciates by 10% of its value at the end of each year. If its initial value of ₱1,000,000 what is its value at the end of the 6th year?
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Answer:
Lets Price of article is 100
Dep value after 1 year =100-100 100×10 90
Dep. value after 2 year =90-100
90×10 =81
Dep. value after 3 years =81-100 81×15 =68.85
Total Dep. =100-68.85 = 31.15%
Explanation:
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