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A machine having assumed life of 20 years is purchased for Rs 32000/-. Its scrap value at the end of its life is Rs 8000/-. If the depreciation is calculated by diminishing balance method, then percentage reduction in its value at the end of first year is __________ percent. | |
A. | 6.7 [Correct Answer] |
B. | 7.6 [Wrong Answer] |
C. | 10.3 [Wrong Answer] |
D. | 15.2 [Wrong Answer] |