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Mr Ashok Kumar has taken a mine on lease whose minimum...

This question belongs to Commerce Accounting
Accounting
?

Mr. Ashok Kumar has taken a mine on lease whose minimum rent is Rs. 1,00,000. The rate of royalty is Rs. 1 per ton. The production in a particular year is Rs. 80,000 tonnes. What will be the amount to be paid by Mr. Ashok?

Answer & Solution
Correct Answer: Option B
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