The value of a machine depreciates every year at the rate of 10% on its value at the beginning of that years. If the present value of the machine is Rs. 729. Its worth 3 years ago was?
Correct Answer: Rs. 1000
Explanation:
∵ P (1 - 10/100)3 = 729
∴ P = Rs.(729 x 10 x 10 x 10)/(9 x 9 x 9) = Rs. 1000
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