Practice Costs Associated with the Machine - 3 | 16. Economic Life of a Machine | Construction Engineering & Management - Vol 1
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Knowledge

3 - Costs Associated with the Machine

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What does 'economic life' refer to?

💡 Hint: Think about the time when a machine is most beneficial to keep.

Question 2

Easy

What is downtime cost?

💡 Hint: Reflect on the times the machine cannot work due to repairs.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What is economic life?

  • Period of maximum cost
  • Period of minimum cost
  • Fixed duration of machine usage

💡 Hint: Focus on the benefits of owning machinery over time.

Question 2

True or False: Obsolescence costs refer to the depreciation of older machines only.

  • True
  • False

💡 Hint: Think of how new models affect older machines.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A company has a machine that costs 2,00,000 per year to maintain after the first year. If inflation is projected to be 5% annually, calculate the maintenance budget for the next five years.

💡 Hint: Adjust each year's cost by multiplying the prior year's cost by 1 plus the inflation rate.

Question 2

Calculate how obsolescence affects a machine's resale value if its current market worth is 25,00,000, but newer models cause a depreciation of 30%. What’s the expected value?

💡 Hint: Think of how quickly technology advances and what that does to older models.

Challenge and get performance evaluation