Question

Mr. K started a business on 1st April 2019 with a capital of Rs50,000 and a loan of Rs25,000 borrowed from Mr. P. During 2019-20 he had introduced additional capital of Rs25,000 and had withdrawn Rs15,000 for personal use. On 31st March,2020 his assets were Rs1,50,000. Find out his capital as on 31st March,2020 and profit made or loss incurred during the year 2019-20. (4 Marks)
3

Answer 1

Answer:

50000+25000+25000=100000

150000-100000=50000

profit =50000