The following information relates to a partnership firm :
(a) Profits/Loss for the last six years :
`{:("1st year","Rs. 20,000 Profit","4th year","Rs. 60,000 Profit"),("2nd year","Rs. 60,000 Profit","5th year","Rs. 50,000 Profit"),("3rd year","Rs. 10,000 Loss","6th year","Rs. 72,000 Profit"):}`
(b) Average Capital Employed is Rs. 2,00,000.
(c) Rate of normal profit is 15%.
Find out the value of goodwill on the basis of :
(i) Four year's purchase of average profits.
(ii) Four year's purchase of super profits.
(iii) Capitalisation of super profits.

Explanation

(i) On the basis of average profits Rs. 1,68,000
(ii) On the basis of super profits Rs. 48,000
(iii) On the basis of capitalisation of super profits Rs. 80,000.