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The value of a laptop depreciates by 10% every year. The laptop is sold after 3 years at a discount of ₹270 on its price at that time. What is the total loss percent incurred after selling the laptop if it was purchased at ₹10,000?

1. 29.80%
2. 31.30%
3. 28.50%
4. 32.10%

Correct answer: 29.80%

Solution

After 3 years, the value becomes \(10000 \times 0.9^3 = 7290\). It is then sold at a discount of ₹270, so selling price = 7290 - 270 = 7020. Loss = 10000 - 7020 = 2980, which is 29.8% of the cost price.

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