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:

A machine is purchased at a cost of Rs. 5,00,000. Its useful life is 5

1.	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:
A.	Profit Rs. 15,000
B.	Loss Rs. 5,000
C.	No Profit no Loss
D.	Loss of Rs. 1,000
Answer» E.