# 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 SLM method, find the profit or loss on sale of the car? with Answer - Accounting Mcqs | TestPrep

> Solved MCQ: 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 SLM method, find the profit or loss on sale of the car? Correct Answer: A. 20,000 Loss. Verified answer explanation for FPSC, PPSC, MDCAT, NTS, and CSS competitive exam preparation.

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# 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 SLM method, find the profit or loss on sale of the car?

Direct Answer & Quick Reference

The correct option is **A. 20,000 Loss**.

A. 20,000 Loss **(Correct Answer)**

B. 20,000 Profit

C. 10,000 Loss

D. 10,000 Profit

✨ Explain with AI

Verified Key: A. 20,000 Loss
Solved by 1,312+ students

Verified against official examination board answer keys and standard curriculum textbooks.

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