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A scooter was bought at Rs 42,000. Its value depreciated at the rate of 8% per annum. Find its value after one year.

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.
 

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Given,

Principal = Rs 42,000

Rate of depreciation = 8% p.a

\therefore Reduction = 8% of Rs 42000 per year

                =\frac{42000\times 8\times 1}{100} = Rs\ 3360

\therefore Value at the end of 1 year = Rs (42000 – 3360) = Rs 38,640

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