Question

If closing capital is ₹18,50,000; drawings are ₹1,850 per month; fresh capital is ₹2,350 per
week and opening capital is ₹25,20,000. Calculate profit

Answer 1

Answer:

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Answer 2

I'm not sure about the answer... So please check if it is right or wrong.......

Solution :

•Closing capital = ₹ 1850000

•Drawings = ₹ 1850 per month

•Fresh Capital = ₹ 2350*4 = ₹ 9400 ( 4 weeks makes 1 month)

•Opening capital = ₹ 25,20,000

As we khow that :

Closing capital = Opening capital + Additional capital + Profit - Drawings

.: 18,50,000 = 25,20,000 + 9400 + Profit - 1850

So, Profit = - 6,77,550

Which means he suffered loss.....of ₹ 6,77,550.

Hope it helps!!!!