A partnership firm earned net profits during the last three years ended 31st March, as follows: 2021 – ₹ 17,000; 2022 – ₹ 20,000; 2023 – ₹ 23,000. Capital investment in the firm throughout the above mentioned period was ₹ 80,000

A partnership firm earned net profits during the last three years ended 31st March, as follows: 2021 – ₹ 17,000; 2022 – ₹ 20,000; 2023 – ₹ 23,000. Capital investment in the firm throughout the above mentioned period was ₹ 80,000.

Having regard to the risk involved. 15% is considered to be a fair return on the capital. Calculate value of goodwill on the basis of two year’s purchase of average super profit earned during the above mentioned three years.