The value of an article which was purchased 2 years ago, depreciates at 12 % per annum. If its present value is Rs .9680, the price at which it was purchased is?

Answer: 12,500

Given, $A =$ Rs. $9680, T = 2$ years, $R = 12 %$
$∵ A = P (1 - \frac{R}{1 0 0})$
$9680 = P (1 - \frac{1 2}{1 0 0})^{2}$
$9680 = P (\frac{8 8}{1 0 0})^{2}$
$P = 9680 \times \frac{2 5}{2 2} \times \frac{2 5}{2 2}$
$=$ Rs. $12, 500$

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