A scooter is bought at Rs 56000. Its value depreciates at the rate of 10% per annum. What will be its value after 3 years?
Initial value of the scooter, $P=$ Rs 56000
Rate of depreciation, $R=10 \%$
Time, $n=3$ years
Then the value of the scooter after three years is given by
Value $=P \times\left(1-\frac{R}{100}\right)^{n}$
$=$ Rs. $56000 \times\left(1-\frac{10}{100}\right)^{3}$
$=$ Rs. $56000 \times\left(\frac{100-10}{100}\right)^{3}$
$=$ Rs. $56000 \times\left(\frac{90}{100}\right)^{3}$
$=$ Rs. $56000 \times\left(\frac{9}{10}\right)^{3}$
$=$ Rs. $56000 \times\left(\frac{9}{10}\right) \times\left(\frac{9}{10}\right) \times\left(\frac{9}{10}\right)$
$=$ Rs. $(56 \times 9 \times 9 \times 9)$
$=$ Rs. 4082
Therefore, the value of the scooter after three years will be Rs. $40824 .$