In market research conducted by an automobile company, the depreciation in the resale value is found to be 15% for one year old model, 13.5% for two years old model, 12% for three years old model and so on. If a luxury car made by the company was bought at Rs.8,00,000 ten years ago, then what will be the resale price of that car?
A. Rs 2,80,000
B. Rs 1,40,000
C. Rs 3,20,000
D. None of these
Answer:B
In market research conducted by an automobile company, the depreciation in the resale value is found to be 15% for one year old model, 13.5% for two years old model, 12% for three years old model and so on. If a luxury car made by the company was bought at Rs.8,00,000 ten years ago, then what will be the resale price of that car?
A. Rs 2,80,000 B. Rs 1,40,000 C. Rs 3,20,000 D. None of these