Question : The price of a mobile is Rs. 30,000. The value of the mobile depreciates by 12% at the end of the first year and at the end of next year, it depreciates by 15%. What will be the value of the mobile after 2 years?
Option 1: Rs. 25,255
Option 2: Rs. 22,440
Option 3: Rs. 20,000
Option 4: Rs. 25,000
Correct Answer: Rs. 22,440
Solution :
The price of a mobile is Rs. 30,000.
The value of the mobile depreciates by 12% at the end of the first year.
Price of the mobile after 1 year = $\frac{88}{100}×30000=26400$
The value of the mobile depreciates by 15% at the end of the 2nd year.
Price of the mobile after 2 years = $\frac{85}{100}×26400=22440$
Hence, the correct answer is Rs. 22,440.
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