Question:
A car costing ₹8,00,000 has scrap value of ₹3,00,000. If the book value of car at the end of fourth year is ₹6,00,000, then the useful life of the car is:
A car costing ₹8,00,000 has scrap value of ₹3,00,000. If the book value of car at the end of fourth year is ₹6,00,000, then the useful life of the car is:
Updated On: May 21, 2024
- 6 years
- 12 years
- 10 years
- 8 years
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The Correct Option is C
Solution and Explanation
The correct option is (C):10 years
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