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Q: 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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