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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?

/ Compound Interest, Mathematics Mcqs / By
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.18060.36
D. Rs.18600
Explanation:
6 1/4% = 1/16
x *15/16 * 15/16 * 15/16 = 21093
x = 25600.24