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The balance of machine on 31st March 2006 is Rs 72900. The machine was purchased on 1st April 2003 charging deprecation @10%p.a. The cost price of machine as on 1st April 2003 would be?
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The balance of machine on 31st March 2006 is Rs 72900. The machine was...
Calculation of Cost Price of Machine as on 1st April 2003
To calculate the cost price of the machine as on 1st April 2003, we need to consider the depreciation charged on the machine from 1st April 2003 to 31st March 2006.
Given Information:
- Balance of the machine on 31st March 2006 = Rs 72,900
- Depreciation rate = 10% per annum
Step 1: Calculate the total depreciation charged from 1st April 2003 to 31st March 2006
Depreciation is calculated using the formula: Depreciation = Cost Price × Depreciation Rate × Time
Here, we need to calculate the depreciation charged for 3 years, from 1st April 2003 to 31st March 2006.
Depreciation = Cost Price × 10% × 3 years
Step 2: Calculate the cost price of the machine as on 1st April 2003
The cost price of the machine as on 1st April 2003 can be calculated by subtracting the depreciation charged from the balance of the machine on 31st March 2006.
Cost Price as on 1st April 2003 = Balance on 31st March 2006 - Depreciation charged
Step 3: Substitute the given values to calculate the cost price of the machine as on 1st April 2003
Depreciation = Cost Price × 10% × 3 years
72900 = Cost Price - (Cost Price × 10% × 3)
Step 4: Solve the equation to find the Cost Price as on 1st April 2003
72900 = Cost Price - (0.3 × Cost Price)
72900 = 0.7 × Cost Price
Cost Price = 72900 / 0.7
Cost Price = Rs 104,142.86 (approx)
Therefore, the cost price of the machine as on 1st April 2003 would be approximately Rs 104,142.86.
To calculate the cost price of the machine as on 1st April 2003, we need to consider the depreciation charged on the machine from 1st April 2003 to 31st March 2006.
Given Information:
- Balance of the machine on 31st March 2006 = Rs 72,900
- Depreciation rate = 10% per annum
Step 1: Calculate the total depreciation charged from 1st April 2003 to 31st March 2006
Depreciation is calculated using the formula: Depreciation = Cost Price × Depreciation Rate × Time
Here, we need to calculate the depreciation charged for 3 years, from 1st April 2003 to 31st March 2006.
Depreciation = Cost Price × 10% × 3 years
Step 2: Calculate the cost price of the machine as on 1st April 2003
The cost price of the machine as on 1st April 2003 can be calculated by subtracting the depreciation charged from the balance of the machine on 31st March 2006.
Cost Price as on 1st April 2003 = Balance on 31st March 2006 - Depreciation charged
Step 3: Substitute the given values to calculate the cost price of the machine as on 1st April 2003
Depreciation = Cost Price × 10% × 3 years
72900 = Cost Price - (Cost Price × 10% × 3)
Step 4: Solve the equation to find the Cost Price as on 1st April 2003
72900 = Cost Price - (0.3 × Cost Price)
72900 = 0.7 × Cost Price
Cost Price = 72900 / 0.7
Cost Price = Rs 104,142.86 (approx)
Therefore, the cost price of the machine as on 1st April 2003 would be approximately Rs 104,142.86.
Community Answer
The balance of machine on 31st March 2006 is Rs 72900. The machine was...
104142.9 am i right
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The balance of machine on 31st March 2006 is Rs 72900. The machine was purchased on 1st April 2003 charging deprecation @10%p.a. The cost price of machine as on 1st April 2003 would be?
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The balance of machine on 31st March 2006 is Rs 72900. The machine was purchased on 1st April 2003 charging deprecation @10%p.a. The cost price of machine as on 1st April 2003 would be? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The balance of machine on 31st March 2006 is Rs 72900. The machine was purchased on 1st April 2003 charging deprecation @10%p.a. The cost price of machine as on 1st April 2003 would be? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The balance of machine on 31st March 2006 is Rs 72900. The machine was purchased on 1st April 2003 charging deprecation @10%p.a. The cost price of machine as on 1st April 2003 would be?.
The balance of machine on 31st March 2006 is Rs 72900. The machine was purchased on 1st April 2003 charging deprecation @10%p.a. The cost price of machine as on 1st April 2003 would be? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The balance of machine on 31st March 2006 is Rs 72900. The machine was purchased on 1st April 2003 charging deprecation @10%p.a. The cost price of machine as on 1st April 2003 would be? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The balance of machine on 31st March 2006 is Rs 72900. The machine was purchased on 1st April 2003 charging deprecation @10%p.a. The cost price of machine as on 1st April 2003 would be?.
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