Question

Mr. Mehra operates small shop specializing in party favors. He owns the building and supplies
all his own labor and Rs 120,000 money which was kept in a bank earning 5% monthly rate of
interest. Before starting his own business, he earned Rs 12,000 p.m. by renting out the store and
earned Rs 25,000 p.m. as a store manager for a large departmental store.
His monthly revenue from operating his shop are Rs 1,00,000 and his total monthly expenses for
labor and supplies amounted to Rs 60,000.Calculate his accounting and economic profit.
(Ans: AP = 40,000, EP = -3,000)

Answer 1

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