Question:
The value of a machine costing 80000 depreciates at the rate of 15% per annum. What will be the worth of this machine after 3 days?
Solution:
To find: The amount after three days
Given: (i) Principal - 80000
(ii) Time $-3$ days
(iii) Rate - 15\% per annum
Deduction = P × R × T
$=80000 \times \frac{15}{100} \times \frac{3}{365}$
= 98.63
The final amount after deduction = 80000 – 98.63
= 79901.37
The value of the machine after 3 days is Rs. 79901.37
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