Kalyan purchased a Maruti van for Rs. 1,96,000 and the rate of depreciation is 1

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Question
Kalyan purchased a Maruti van for Rs. 1,96,000 and the rate of depreciation is 14(2/7) % per annum. Find the value of the van after two years ?
Options
A. Rs. 1,24,000
B. Rs. 1,44,000
C. Rs. 1,32,000
D. Rs. 1,62,000

Correct Answer

Rs. 1,44,000

Explanation

Value of Maruti Van, V1 = Rs. 1,96,000
Rate of depreciation, r = 14(2/7)% = 100/7%; Time, t = 2 years
Let V2 is the value after depreciation.

$V 2 = V 1 {(1 - (\frac{r}{100}))}^{t}$
V2 = $19600 {[1 - (\frac{\frac{100}{7}}{100})]}^{2}$

V2 = 196000(6/7)(6/7)

V2 = (196000x36)/49 = Rs. 1,44,000.

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