Sarthaks Test
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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.

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Principal = Cost price of the scooter = Rs 42,000 Depreciation = 8% of Rs 42,000 per year

= Rs (42000 x 8 x 1/100)

 = Rs 420 x 8 x 1 = Rs 3360

Value after 1 year = Rs 42000 − Rs 3360 = Rs 38,640

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