12 A scooter was bought at Rs 42,000. Its value depreciated at the rate of 8% per annum. Find its value after one year.
Given,
Principal = Rs 42,000
Rate of depreciation = 8% p.a
Reduction = 8% of Rs 42000 per year
Value at the end of 1 year = Rs (42000 – 3360) = Rs 38,640