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An earth moving equipment costs Rs. 5,00,000/- and has an estimated life of 10 years and a salvage value of Rs. 50,000/-.What uniform annual amount must be set aside at the end of each of the 10 years for replacement if the interest rate is 8% per annum and if the sinking fund factor at 8% per annum interest rate for 10 years is 0.069 ? | |
A. | Rs. 31050 [Correct Answer] |
B. | Rs. 34500 [Wrong Answer] |
C. | Rs. 37950 [Wrong Answer] |
D. | Rs. 50000 [Wrong Answer] |