Question

The capital of Mr. Hari on 1st April, 2017 was 50,000 and 31st March, 2018 was * 48,000. He has informed you
that he withdrew from the business * 800 per month for his private use. He paid 2,000 for his income tax and
the instalment of the loan of his personal house at the rate of 1,500 per month from the business. He has also
sold his shares of X Ltd. costing 10,000 at a profit of 20% and invested half of this amount to the business
Calculate the profit or loss of the business.​

Answer 1

Answer:yes

Explanation:

Capital= 48000+1000₹

Profit on sale of shares= 1000₹

Income tax= 2000₹

Withdrawals= 800*12= 9600₹

Loan=1500*12= 18000₹

Profit or loss= we need sales amount.

Answer 2

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