The present value of an oil engine is Rs. 14,580. What was the worth of the engine 3 years before if the value depreciates at the rate of 10% every year?
present value of an oil engine = 14,580.
Rate of depreciation(R) = 10%
No. of years(n) = 3
Value of engine oil before 3 years (P) = ?
present value of an oil engine = ![]()
14,580 = ![]()
14,580 = ![]()
P = ![]()
P = 20,000
Value of engine oil before 3 years (P) is 20,000
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