Question

196. Vinay started business on 1st April
2013 with a capital of Rs. 25.000 and a
loan of Rs. 12.500 Total assets and
liabilities at the end of 31St March 2014
amounted to Rs 75.000 and RS
12.500 respectively. He invested a
further capital of Rs. 12.500 during the
year and withdrew Rs. 7.500 duning the
relevant financial year. His closing
capital and profit would be respectively
(A) Rs. 62,500 and Rs. 32.500
(B) Rs. 50.000 and Rs. 40.000
(C) Rs. 70.000 and Rs. 47.500
(D) Rs. 55.000 and Rs. 42.500​

Answer 1

(C) Rs. 70.000 and Rs. 47.500 is the answer of your question....