Sana and Rajesh were partners in a firm sharing profits and losses in the ratio of 4 : 3. They admitted Sonu into partnership for 1/5th share in the profits of the firm

Sana and Rajesh were partners in a firm sharing profits and losses in the ratio of 4 : 3. They admitted Sonu into partnership for 1/5th share in the profits of the firm. Goodwill of the firm was to be valued at three years’ purchase of Super Profits. Average net profit of the firm was ₹ 80,000. Capital Employed in the business was2,00,000 and Normal Rate of Return was 10%.

Calculate the amount of goodwill premium brought by Sonu. (CBSE 2025)

[Ans.: Value of Firm’s Goodwill 1,80,000; Sonu’s Share of Goodwill– 36,000.]