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An earth moving equipment costs Rs. 5,00,000 and has an estimated life of 10 years and a salvage value of Rs. 50,000. What uniform annual amount must be set aside at the end of each of the 10 years for replacement if the interest rate is 8% per annum and if the sinking fund factor at 8% per annum interest rate for 10 years is 0.069?

Correct Answer: Rs. 31050

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Construction Management MCQ: An earth moving equipment costs Rs. 5,00,000 and has an estimated life of 10 years and a salvage value of Rs. 50,000. What uniform annual amount must be set aside at the end of each of the 10 years for replacement if the interest rate is 8% per annum and if the sinking fund factor at 8% per annum interest rate for 10 years is 0.069? | Extra Education