Machinery is to be depreciated by 20%. What is the value of machinery(₹3,00,000) after depreciation?
Answer & explanation
Correct answer: option 4
The correct answer is option 4- ₹2,40,000.
Machinery- ₹3,00,000
Dep,= 3,00,000 x 20/100
= ₹60,000
Value of machinery = 3,00,000-60,000
= ₹2,40,000