After 3 years the rate of motorcycle be Rs. 17520458 when its price is depreciated per year by 8%.
Let after x years the price of the motor cycle be Rs 175204.58
According to the given question.
The present price of a motorcycle is Rs. 225000.
And the depreciation rate = 8% = 0.08.
Therefore, the numbers of years after which the price of motorcycle be Rs 175204.58 is gievn by
⇒ 175204.58 = 225000(1 - 0.08)^x
⇒ 175204.58/225000 = (1 - 0.08)^x
⇒ 0.78 = (1 -0.08)^x
⇒ 0.78 = 0.92^x
⇒ -0.107 = xlog(0.92)
⇒ -0.107 = x(-0.036)
⇒ 0.107/0.036 = x
⇒ x = 2.97
⇒ x ≈ 3 years
Hence, after 3 years the rate of motorcycle be Rs. 17520458 when its price is depreciated per year by 8%.
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