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A property decreases in value every year at the rate of 6 1/4% of its value at the beginning of the year its value at the end of 3 years was Rs.21093. Find its value at the beginning of the first year?

Correct answer: A. Rs.25600.24

  • A. Rs.25600.24
  • B. Rs.32000.50
  • C. Rs.18060.36
  • D. Rs.18600

Explanation

A yearly decrease of 6 1/4% means the value retains 93 3/4% = 15/16 each year. Therefore the initial value is Rs.21093/(15/16)³ = Rs.21093 x 4096/3375, approximately Rs.25599, which rounds to about Rs.25600. Students may choose Rs.32000 by reversing only one year's depreciation instead of three years.

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