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  4. The worth of a car decreases from ₹ 8,50,000 to ₹ 5,12,000 in a 2 years. Find the rate of depreciation.

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Q. The worth of a car decreases from $₹ 8,50,000$ to $₹ 5,12,000$ in a 2 years. Find the rate of depreciation.

Simple Interest and Compound Interest

Solution:

Now, we have
$\frac{612000}{850000}=(1-\frac{R}{100})^2 $
$(\frac{72}{100})=(1-\frac{R}{100})^2 $
$0.85=1-\frac{R}{100}$
$85=100-R $
$\Rightarrow R=15 \%$