Q. A machine is purchased at a cost of Rs. 5,00,000. Its useful life is 5 years with a scrap value of Rs. 50,000. It is sold for Rs. 40,000 at the end of 5 years. The profit or loss on the sale would be: (Solved)
1. Profit Rs. 15,000
2. Loss Rs. 5,000
3. No Profit no Loss
4. Loss of Rs. 1,000
- d. Loss of Rs. 1,000