Question: A melting unit for a steel foundry was purchased for Rs . 3 0 , 0 0 0 . Rs . 5 , 0 0

A melting unit for a steel foundry was purchased for Rs

. 30, 000 .

. 5, 000

more were spent on its erection and commissioning. The estimated residual value after ten years was Rs

. 7, 000 .

Calculate the annual rate of depreciation. Also determine the depreciation fund collected at the end of seven years after the purchase of the melting unit.

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