CBSE 2024 · Region 3 · Set 1 · Q18

Rishi and Suman were partners in a firm. Their capitals were : Rishi ₹ $\displaystyle 1,20,000$ and Suman ₹ $\displaystyle 80$,000. The normal rate of return in similar business is $\displaystyle 12$%. The profits of the last four years were : Year < $\displaystyle 2019$ $\displaystyle 20$ $\displaystyle 33,000$ $\displaystyle 2020$ $\displaystyle 21$ $\displaystyle 22,000$ $\displaystyle 2021$ $\displaystyle 22$ $\displaystyle 31,000$ $\displaystyle 2022$ $\displaystyle 23$ $\displaystyle 34,000$ Calculate goodwill of the firm based on : (i) Three years purchase of the last four years average profits. (ii) Capitalisation of super profit.