Shivam Industries installed a flour mill for Rs. 300,000 five years ago. If the fixed annual rate of depreciation is 5% and they sold the mill for Rs. 250,000, their gain/loss % is?
mill worth originally =300000
depreciation for I yr =300000x5/100
= Rs 15000
depn for 5yrs=Rs.75000
Value after 5yrs=300000-75000
= Rs225000
selling Price = Rs 250000
Sp>CP
gain=250000-225000 = Rs 25000
gain%=25000/250000x100
Step-by-step explanation:
= 10 % Ans
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