The price of a mobile is Rs. 30,000. The value of the mobile depreciates by 12% at the end of the first year and at the end of next year, it depreciates by 15%. What will be the value of the mobile after 2 years?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Rs. 22,440.
The cost price of the mobile = Rs 30,000
The value of the mobile depreciates by 12% at the end of the first year and at the end of next year, it depreciates by 15%
So, the price of the mobile after the two years = 30,000 × (100 - 12)/100 × (100 - 15)/100
= Rs 22,440