Two years ago, the value of my motorbike was ₹ 62500.

Two years ago, the value of my motorbike was ₹ 62500. If the value depreciates by 4% every year, now its value is

Here , P = ₹ 62500 , Rate ( R ) = 4% , Time = 2 years
Using the given formula ,

Present worth of bike = P		1 −	R		^T
			100

Present worth of bike = 62500		1 −	4		²
			100

Present worth of bike = 62500		1 −	1		²
			25

Present worth of bike = 62500		25 − 1		²
		25

⇒ Present worth of bike =	62500 × 24 × 24	= ₹ 57600
	25 × 25