Question

The present price of a motorcycle is

Rs. 2,25,000. If its price is depreciated per year by 8 %, after
how many years will be the price of the motorcycle be
Rs. 1,75,204.80 ? Find it.​

Answer 1

3.25 years

Explanation:

The computation of the number of years is shown below:

Given that

PV = $225,000

RATE = 8%

PMT = $0

FV = $175,204.80

The formula is shown below:

= NPER(RATE;PMT;PV;FV;TYPE)

After applying the above formula, the number of years would be 3.25 years

The same would be considered