Question : The value of a washing machine depreciated from INR 40,960 to INR 21,970 in 3 years. Find the yearly rate of depreciation.
Option 1: 25%
Option 2: 16.25%
Option 3: 18.75%
Option 4: 20%
Correct Answer: 18.75%
Solution :
Initial value = INR 40960
Value after depreciation = INR 21970
Time = 3 years
Ratio of initial value and final value = $\sqrt[n]{\text{Initial value}}:\sqrt[n]{\text{Depreciated value}}$
= $\sqrt[3]{40960}:\sqrt[3]{21970}$
= $\sqrt[3]{4096}:\sqrt[3]{2197}$
= $16 : 13$
Difference = 16 – 13 = 3
Required percentage = $\frac{\text{Difference}}{\text{Initial value}}\times100=\frac{3}{16}\times100= 18.75\%$
Hence, the correct answer is 18.75%.
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