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AFCAT Model Paper 1

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Question : 55 of 100

Marks: +1, -0

The value of a car decreases at the rate of 15% per year. It was purchased 2 years ago. If its present value is Rs. 28.9 lakh then its purchase value was?

30 lakh
35 lakh
40 lakh
45 lakh

Solution:

Given:

The rate at which the value decreases = 15%

Present value = 28.9 lacks

Formula used:

Present value = Purchased value

\times \left[\frac{100 - x}{100}\right]^t

Calculation:

Let purchased value of car = x rupees

Present value = Purchased value

\times \left[\frac{100 - x}{100}\right]^t

⇒

28.9 = x \left[\frac{100 - 15}{100}\right]^2

⇒

28.9 = x \left(\frac{85}{100}\right)^2

⇒

28.9 = x \left(\frac{17}{20}\right)^2

⇒

28.9 = \left(\frac{289}{400}\right) x

∴ The value of purchased car (x) was 40 lakh.

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