A property decreases in value every year at the rate of 6 1/4% of its value at the beginning of the year its value at the end of 3 years was Rs.21093. Find its value at the beginning of the first year ?
A. Rs 25600.24
B. Rs 32000.50
C. Rs 18060.26
D. Rs 18600
Answer : A. Rs 25600.24…
Explanation :
6 1/4% = 1/16
x * (15/16) * (15/16) * (15/16) = 21093
x = 25600.24
