The cost of Maruti 800 in the year 1998 was ₹ 2,50,000. After the

Question

The cost of Maruti 800 in the year 1998 was ₹ 2,50,000. After the end of one year and four months, the price underwent depreciation by 10% per annum. Its new price is

Options:

A . ₹ 2,25,000

B . ₹ 2,17,500

C . ₹ 2,40,000

D . ₹ 2,23,000

Answer: Option B
:
B

Depreciation means a decrease in the value due to use and age of the item.

$A = P \times {[1 - \frac{r}{100}]}^{n}$ , where $A$ is the amount, $P$ is the principal, $r$ is the rate of interest and $n$ is the time period.

So, price at the end of one year $= 2, 50, 000 \times {[1 - \frac{10}{100}]}^{1}$ = ₹ 2,25,000

Depreciation for next four months $= 2, 25, 000 \times 10 \times \frac{1}{100 \times 3}$ = ₹ 7500

So, the depreciated value after one year and four months $= 2, 25, 000 - 7, 500$ = ₹ 2,17,500

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