(a) An asset costs ₹ 4,50,000 with an estimated useful life of 5 years and a scrap value of ₹ 1,00,000. Using linear depreciation method, find the…

An asset costs ₹ $\displaystyle 4,50,000$ with an estimated useful life of $\displaystyle 5$ years and a scrap value of ₹ $\displaystyle 1,00$,000. Using linear depreciation method, find the annual depreciation of the asset and construct a yearly depreciation schedule.

Amrita bought a car worth ₹ $\displaystyle 12,50,000$ and makes a down payment of ₹ $\displaystyle 3,00$,000. The balance amount is to be paid in $\displaystyle 4$ years by equal monthly instalments at an interest rate of $\displaystyle 15 \%$ p.a. Find the EMI that Amrita has to pay for the car.

{Given $\displaystyle (1.0125)^{-48}=0.5508565$)}