Question

    An asset is purchased for ₹14 lakhs and ₹1 lakh was

    spent on the installation of the asset, with a useful life of 10 years. What is the difference between the amount of depreciation charged in the second year as per the straight-line method and the sum of years of digits method?
    A ₹95,454.55 Correct Answer Incorrect Answer
    B ₹2,72,727.27 Correct Answer Incorrect Answer
    C ₹2,45,454.55 Correct Answer Incorrect Answer
    D ₹1,22,727.27 Correct Answer Incorrect Answer

    Solution

    The correct answer is A

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