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The books of Ram and Bharti showed that ...

The books of Ram and Bharti showed that the capital employed on 31.12.2016 was Rs. 5,00,000 and the profits for the last 5 years: 2015 Rs. 40,000, 2014 Rs.50,000, 2013 Rs. 55,000, 2012 Rs. 70,000 and 2011 Rs. 85,000. Calculate the value of goodwill on the basis of 3 year purchase of the average super profits of the last 5 years assuming that the normal rate of return is 10%.

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The correct Answer is:
Rs. 30,000
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