The value of a mobile phone depreciates at the rate of 10% every year. It was purchased 3 years ago. If…
After three years of 10 percent depreciation the value is \(P\times(0.9)^{3}=0.729P\). Setting \(0.729P=6561\) gives \(P=\frac{6561}{0.729}=9000\). The purchase price was…
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The value of a mobile phone depreciates at the rate of 10% every year. It was purchased 3 years ago. If its present value is ₹ 6561/-, what was its purchase price?
Answer and explanation
Correct answer B
After three years of 10 percent depreciation the value is . Setting gives . The purchase price was Rs. 9000.
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