The value of a machine depreciates at 20% per annum. If its present value is Rs. 1,50,000, at what price should it be sold after two years such that a profit of Rs. 22,000 is made?  Select.
A) 328897
B) 120000
C) 118000
D) 277768
E) 188871
The value of the machine after two years = 0.8 * 0.8 * 1,50,000 = Rs. 96,000   SP such that a profit of Rs. 22,000 is made = 96,000 + 24,000 = Rs. 1,18,000   Answer: 118000
<result>C</result>
The value of a machine depreciates at 20% per annum. If its present value is Rs. 1,50,000, at what price should it be sold after two years such that a profit of Rs. 22,000 is made?