A, B & C are partners sharing profits in the ratio of 5:4:1. Their capital accounts showing balance of ₹300000, ₹150000, ₹150000 respectively. It is decided between partners that they will share future profits equally. Firm has the following information-
Creditors- ₹110000
Salary payable- ₹30000
O/s expenses- ₹10000
General reserve- ₹40000
Bank balance- ₹210000
Sundry debtors- ₹100000
Provision for doubtful debts- ₹10000
Stock -₹50000
Furniture- ₹40000
Computers- ₹200000
Vehicle-₹200000

What will be the revised value of vehicle if it is reduced by 12%?

₹176000

The correct answer is option 1- ₹176000.

Vehicle = 2,00,000
Reduced by 12%
Reduction = 2,00,000 x 12/100
                 = 24,000
Revised value = 2,00,000 -24,000
                       = ₹176000

So, the value of the vehicle after reduction is ₹176000.