Question

Opening capital 5lakhs which is 25%of closing capital additional capital 20%of closing capital drawing 10,000/month calculate profit or loss of the year

Answer 1

Answer:

profit=1220000

Explanation:

opening capital + additional capital + profit - drawing during the year = closing capital

500000 + 400000 + profit - 120000 = 2000000

profit = 1220000