12.A scooter was bought at ₹ 42,000. Its value depreciated at the rate of 8% per annum. Find its value after one year.

We have: Cost price of the scooter = ₹ 42,000

Rate of depreciation = 8% p.a.

Time(n)= 1 year

So, Final value of the scooter = Present value\(\times(1-\frac{R}{100})^n\)

\(=42,000\times(1-\frac{8}{100})\)

\(=42,000\times(\frac{23}{25})\)

\(=1,680\times23=38,640\)

Thus, the value of scooter after 1 year =₹ 38,640.