The following information relates to a partnership firm:
(a) Sundry Assets of the firm Rs. 6,80,000. Outside Liabilities Rs. 60,000.
(b) Profits and losses for the past years : Profit 2013 Rs. 50,000, Loss 2014 Rs. 10,000, Profit 2015 Rs. 1,64,000 and Profit 2016 Rs. 1,80,000.
(c) The normal rate of return in a similar type of business is 12%.
Calculate the value of goodwill on the basis of :
(i) Three year's purchase of average profits.
(ii) Three year's purchase of super profits.
(iii) Capitalisation of average profits, and
(iv) Capitalisation of super profits.

Explanation

(i) Rs. 2,88,000, (ii) Rs. 64,800, (iii) Rs. 1,80,000 and (iv) Rs. 1,80,000.