Question : A mobile phone was bought for INR 25,000. The value of that mobile phone depreciates by 5% per annum due to its use. The value of the mobile phone after 2 years is:
Option 1: INR 22,562.50
Option 2: INR 23,842.50
Option 3: INR 21,546.50
Option 4: INR 24,800.50
Correct Answer: INR 22,562.50
Solution :
Initial Price = 25,000
Depreciation per annum = 5%
Depreciation after 2 years = $5 + 5 -\frac{5×5}{100}=10-0.25=9.75$%
So, the price after 2 years
= $(100-9.75)$% of 25000
= $\frac{90.25}{100}×25000$
= INR 22562.50
Hence, the correct answer is INR 22,562.50.
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