Question

on 1st April 2015 Farid of Nashik purchased a motor car for rs 55000 the scrap value of the motor car was estimated at rs 10000 and its estimated life is 10 years the registration charges of the motor car was 5000​

Answer 1

Answer:

Explanation:

depreciation  = ( cost  - scrap ) / estimated life

                      =  (60000 - 10000) / 10

                     =  5000

rate of depreciation  =  ( 5000 / 60000 ) x 100

                                  =  8.33 %

Answer 2

Rate of Depreciation 8.33% and Depreciation Per Year 60000

Explanation:

In this Question we Find out the Rate of Depreciation

In earlier stage we read the below formula

to ascertain the Depreciation Per Year

Depreciation = $\frac{Cost-Scrap/Residual Value/breakup value}{Estimated life of Asset}$

Per Year

Depreciation = $\frac{55000+5000-10000}{10}$

Per year

                 =   5000

Rate of Depreciation = Cost/Rate x 100

                                   = 60000/5000=100

                                   = 5000 x 100/60000

                                   = 8.33 %

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