Scrap value is the net annual letting value of a property, which is obtained after deducting the amount of yearly repairs from the gross income.

Related MCQs

• A pumping set with a motor has been installed in a building at a cost of Rs.2500.00. Assuming the life of the pump as 15 years, work out the amount of annual instalment of sinking fund required to be deposited to accumulate the whole amount of 4% compound interest.
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