Two years ago, the value of my motorbike was Rs.62500. if the value deprreclates by 4% every year, now its value is
1). Rs.56700
2). Rs.57600
3). Rs.57500
4). Rs.55700
Here is the right answer
Present worth of bike
= P$1+\frac{R}{100} ^{T}$
$\frac{62500\times 24\times 24}{25\times25}$
= 57600