The profits ear ned by a firm during the last four years were as follows:
`{:("Year ended 31st March","Profits (Rs.)"),(2013,"80,000"),(2014,"1,00,000"),(2015,"1,10,000"),(2016,"1,50,000"):}`
Calculate the value of goodwill on the basis of three year's purchase of weighted average profits. Weights to be used are 1,2,3 and 4 respectively to the profits for 2013, 2014, 2015 and 2016.

Explanation

Goodwill Rs. 3,63,000.