Here the price every year is 6% less than the previous years price.
First year’s price = Rs 500000
First year’s depreciation
= 500000 × \(\frac{6}{100}\) = Rs. 300000
Second year’s price = Rs 4,70000
Second year’s depreciation
= 470000 × \(\frac{6}{100}\) = 28200
The price of the car after 2 years
= Rs 4,70,000 – Rs 28200
= Rs 441800