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SSC Quantitative Aptitude Simple Interest Question Bank Simple and Compound Interest (II)

  • question_answer
    Two years ago, the value of my motorbike was Rs. 62500. If the value depreciates by 4% every year, now its value is [SSC CGL Tier II, 2014]

    A) Rs. 56700

    B) Rs. 57600

    C) Rs. 57500

    D) Rs. 55700

    Correct Answer: B

    Solution :

    [b] Value of motor bike depreciates at 4% every year. So, the price of motor bike now             \[=62500\times \left( 1-\frac{4}{100} \right)\left( 1-\frac{4}{100} \right)\]             \[=62500\times \left( 1-\frac{1}{25} \right)\left( 1-\frac{1}{25} \right)\]             \[=62500\times \frac{24}{25}\times \frac{24}{25}=\text{Rs}\text{.}\,\,57600\]


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