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The value of a machine depreciates at 10% per year. If the present value is Rs 1,62,000, what is the worth of the machine after two years.

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Present value of the machine = Rs 1,67,000 

Rate of depreciation = 10 % Per annum 

Time (n) = 2 years 

For 1 year depreciation amount = \(\frac{162000\times1\times10}{100}\)

= Rs 16,200 

Worth of the machine after one year = Worth of Machine – Depreciation

= 1,67,000 – 16,200 

= 1,45,800 

Depreciation of the machine for 2nd year = 145800 x 1 x \(\frac{10}{100}\)

= 14580 

Worth of the machine after 2 years = 1,45,800 – 14,580 

= 1,31,220 

∴ Worth of the machine after 2 years = Rs 1,31,220

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