On 1-7-2012 a second hand machinery was purchased for Rs.15,00,000 and an amount of Rs.1,00,000 was spent for its repairs. Depreciation is charged at 15% per annum under WDV method. The machinery was sold on 31-03-2015 for Rs.10,40,000. Calculate the profit or loss on the sale of machinery.

On 1-7-2012 a second hand machinery was purchased for Rs.15,00,000 and

1.	On 1-7-2012 a second hand machinery was purchased for Rs.15,00,000 and an amount of Rs.1,00,000 was spent for its repairs. Depreciation is charged at 15% per annum under WDV method. The machinery was sold on 31-03-2015 for Rs.10,40,000. Calculate the profit or loss on the sale of machinery.
A.	Rs.29,300 Loss
B.	Rs.14,050 Profit
C.	Rs.1,67,000 Loss
D.	Rs.10,298.75 Profit
Answer» C. Rs.1,67,000 Loss

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On 1-7-2012 a second hand machinery was purchased for Rs.15,00,000 and an amount of Rs.1,00,000 was spent for its repairs. Depreciation is charged at 15% per annum under WDV method. The machinery was sold on 31-03-2015 for Rs.10,40,000. Calculate the profit or loss on the sale of machinery.

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