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in Compound Interest by (56.3k points)

Mohan purchased a house for Rs. 30000 and its value is depreciating at the rate of 25% per year. Find the value of the house after 3 years.

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Given details are,

Price of house is = Rs 30000

Depreciation rate is = 25% per year

By using the formula,

A = P (1 + R/100)n

= 30000 (1 – 25/100) (1- 25/100) (1 – 25/100)

= 30000 (75/100) (75/100) (75/100)

= 30000 (0.75) (0.75) (0.75)

= 12656.25

∴ The value of the house after 3 years is Rs 12656.25.

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