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The value of a refrigerator that was purchased 2 years ago, depreciates at 12% per annum. If its present value is Rs. 9680, how much was it purchased

A.	Rs. 12145	B.	Rs. 12142
C.	Rs. 12700	D.	Rs. 12500

Answer and Explanation

Answer:Rs. 12500

Explanation:
Let the cost price if the refrigerator be Rs. V
The present value of the refrigerator = V( 1- 12/100)2 = V(22/25)2
∴ 9680 = V×(22/25) ×(22/25)
V= Rs. 12500

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