The value of a flat worth ₹500,000 is depreciating at the rate of 10% per annum. In how many years will the value be reduced to ₹364,500?
The value of a flat worth ₹500,000 is depreciating at the rate of 10% per annum. In how many years will the value be reduced to ₹364,500?
Solution
✅ Correct Option: 2
For depreciation at rate % per annum for years, value after years
Here, , so value after years
Therefore, it will take 3 Years for the value to reduce to ₹364,500.