Q1799
Five years ago, on old machine was purchased for Rs. 1,00,000 and Rs. 10,000 was paid on its repairing charges. There was also accumulated depreciation of Rs. 50,000 on this machinery. At the beginning of the sixth year it was sold for Rs. 60,000. Profit or loss from this sale will be
A.
Profit of Rs. 10,000
B.
Loss of Rs. 50,000
C.
Loss of Rs. 40,000
D.
No profit or no loss
AnswerAnswer: Option D
Solution
Answer: Option D
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