Program to find the Depreciation of Value

The value of any article or item subject to wear and tear, decreases with time. This decrease is called its Depreciation. Given three variable V1, R and T where V1 is the initial value, R is the rate of depreciation and T is the time in years. The task is to find the value of the item after T years.
Examples: 
 

Input: V1 = 200, R = 10, T = 2 
Output: 162
Input: V1 = 560, R = 5, T = 3 
Output: 480.13 
 

Approach: As in Compound Interest, interest is regularly added to the principal at the end of the agreed intervals of time to generate a new and fresh principal. Similarly, Depreciated value is the decreased value from the amount at the end of agreed intervals of time to generate a new Value.
Thus if V1 is the value at a certain time and R% per annum is the rate (the rate can not be more than 100%) of depreciation per year, then the value V2 at the end of T years is: 
 

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Below is the implementation of the above approach : 
 

162

Time Complexity: O(1)

Auxiliary Space: O(1)