Machinery is to be depreciated by 20%. What is the value of machinery(₹3,00,000) after depreciation?

₹3,00,000 ₹2,70,000 ₹2,00,000 ₹2,40,000

₹2,40,000

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