Question

On 1/4/2011 max purchased a machine for rs 66000 and spend shipping and forwarding rs 5000, import duty rs 7000, carriage and installation rs 1000, brokerage rs 1000. it was estimated that the machine will have a scrap value of rs 5000 at the end of its estimated useful life of 15 years.on 1/1/2012 an amount of rs 3000 was spend on its repair.on 1/10/2013, the machine was sold for rs 50000.profit or loss from the sale of the machine will be

Answer 1

50000 is answer is correct answer