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We first need to calculate the depreciated value of the asset at 31-12-2008 and compare it with the sale price to calculate the profit or loss realized. Depreciation is to be considered for 7 years (i.e. 2002 to 2008). Step 1 – calculating per year depreciation assuming, straight line method Depreciation per year = (cost-salvage value) /number of yrs = (5,00,000 – 0)/10 = 50,000 per year Step 2 – calculating depreciated value of the asset So depreciation of 7 years = 50000*7 = 3,50,000 As such, the written down value at end of 7th year = cost – depreciation for 7 years = 5,00,000 – 3,50,000 = 1,50,000 Step 3 – calculating the profit/loss Profit = sale price - depreciated value = 50,000-1,50,000 = Net loss of 1,00,000
A person spent 20% of his monthly income on food and 70% of the remaining on rent. If amount spent on rent is Rs 840, then find the amount spent on food.
What is the total number of students in a college?
Statement I. In the college 24% of the students are between 18 to 24 years of age, and 45% o...