A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on SLM method, find the profit or loss on sale of the car?

Accounting Mcqs

A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on SLM method, find the profit or loss on sale of the car?

(A) 20,000 Loss

(B) 20,000 Profit

(D) 10,000 Profit

Submitted By: Ali Uppal

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