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. 24,000 is made? Choose the correct answer.
A) Rs. 120,002	B) Rs. 1,20,000	C) Rs. 1,20,00	D) Rs. 1,20,028	E) Rs. 1,20,011
Explanation:   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. 24,000 is made = 96,000 + 24,000 = Rs. 1,20,000   Answer: Rs. 1,20,000
<result>B</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. 24,000 is made?