The purchase price of a tractor is ₹5,50,000, the useful life is 10 years, and the salvage value is 10% of the purchase price. Following the sum of th
Question
The purchase price of a tractor is ₹5,50,000, the useful life is 10 years, and the salvage value is 10% of the purchase price. Following the sum of the years digit method, the depreciation in the third year is
A.
₹52,000
B.
₹62,000
C.
₹72,000
D.
₹82,000
Correct option is A
The sum of the years digit method, the depreciation in the third year is ₹72,000
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