Amar started his business with Rs 250000 on Jan1 , 2011. At the end of year on Dec31 , 2011 his assets were Rs 400000 and liabilities were Rs 80000. What was his closing capital and profit earned during the year ?
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closing capital would be
400000-80000= 320000
and the profit would be
320000-250000= 70000
400000-80000= 320000
and the profit would be
320000-250000= 70000
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