Question. A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on written down value method, find the profit or loss on sale of the Second hand car?
  1. Loss of 20,000
  2. Loss of 22,000
  3. Loss of 11,000
  4. Profit of 11,000