Mathematics · Financial Mathematics and Depreciation
A bank's fleet management department provides data for its transport vehicles: Fleet A: Purchased April 1, 2022, for Rs. 60,00,000 (SLM, 5-year life, Rs. 10,00,000 residual value). Fleet B: Purchased October 1, 2022, for Rs. 40,00,000 (WDV at 20% p.a.). On September 30, 2024, one vehicle from Fleet A (original cost Rs. 12,00,000) was sold for Rs. 8,00,000. Calculate: (i) Total depreciation for FY 2023-24, (ii) Profit/Loss on the sale of the vehicle from Fleet A, and (iii) Total book value of both fleets on March 31, 2025.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1(i) Rs. 17,40,000; (ii) Profit of Rs. 80,000; (iii) Rs. 23,04,000
- 2(i) Rs. 17,40,000; (ii) Profit of Rs. 80,000; (iii) Rs. 23,12,000
- 3(i) Rs. 18,00,000; (ii) Loss of Rs. 1,00,000; (iii) Rs. 23,50,000
- 4(i) Rs. 17,20,000; (ii) Profit of Rs. 80,000; (iii) Rs. 23,04,000✓
Correct answer
(i) Rs. 17,20,000; (ii) Profit of Rs. 80,000; (iii) Rs. 23,04,000
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Mathematics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Financial Mathematics and Depreciation MCQs →Want more practice questions on Financial Mathematics and Depreciation?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Mathematics · Financial Mathematics and Depreciation