Applied Mathematics

Financial Mathematics

Easy

applied

Mr. B.M. Wadhwa purchased a car costing ₹20 lakh. It has a useful life of 15 years. The depreciation follows the straight line trend. If the annual depreciation is ₹1,20,000, what is the scrap value of the car ?

₹1 Lakh

₹2 Lakh

₹6 Lakh

₹50,000

✅ Correct Option: 2

Straight line depreciation $=\frac{\text{cost}-\text{scrap}}{\text{life}}$ . So $1{,}20{,}000=\frac{20{,}00{,}000-S}{15}$ , giving $20{,}00{,}000-S=18{,}00{,}000$ and $S=2$ lakh.

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Mr. B.M. Wadhwa purchased a car costing ₹20 lakh. It has a useful life of 15 years. The depreciation follows the straight line trend. If the annual depreciation is ₹1,20,000, what is the scrap value of the car ?

Solution

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