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6.Interest
medium
The value of a machine depreciates at the rate of $12$ $per$ $cent$ per annum. It was purchased $3$ $years$ ago. Its present value is $Rs. 29644.032$, what was the purchase price (In $Rs.$) of the machine?
A
$48700$
B
$43500$
C
$38900$
D
$39000$
Solution
The present value of machine is Rs. 29644.032 To determine its rate 3 years ago,
The formula to determine is:
$\frac{P}{\left[1-\frac{r}{100}\right]^{3}}\left[\begin{array}{c}\text { where } P=\text { Present value of } \\ \text { machine }\end{array}\right]$
$=\frac{29644.032}{\left[1-\frac{12}{100}\right]^{3}}=\frac{29644.032}{\left(\frac{88}{100}\right)^{3}}$
$=\frac{29644.032 \times 100 \times 100 \times 100}{88 \times 88 \times 88}= Rs. 43500$
Standard 13
Quantitative Aptitude
