Question
Mathematics Question on Compound Interest
A car costing ₹8,50,000 has scrap value of ₹1,25,000. If annual depreciation charge is ₹1,45,000, then useful life of the car is:
A
12 years
B
5 years
C
7 years
D
10 years
Answer
5 years
Explanation
Solution
The correct option is(B):5 years