Ajit and Baljit were sharing profits in the ratio of 3 : 2.

They admit Chaman into the partnership for 1/6th share of future profits. Goodwill, valued at 4 times the average super profit of the firm, was ₹ 18,000.

The firm had assets worth ₹ 15,00,000 and liabilities ₹ 12,00,000.

The normal earning capacity of such firms is expected to be 10%.

Find the Average Profit/Actual Profit earned by the firm.

Anurag Pathak Changed status to publish April 19, 2023