[CBSE] DK Goel Q. 52 Change in Profit Sharing Ratio Solutions Class 12 (2026-27)

Solution of Question 52 of Change in Profit sharing ratio DK Goel Class 12 CBSE (2026-27)

An existing firm had assets of ₹ 4,00,000 including cash of ₹ 15,000. Its creditors amounted to ₹ 20,000 on that date. The partner’s capital accounts showed a balance of ₹ 3,00,000 and reserves amounted to ₹ 80,000. If the normal rate of return is 10% and the goodwill of the firm is valued at ₹ 75,000 at 3 year’s purchase of super profits, find the average profits of the firm.

[Ans. ₹ 63,000.]

Solution:-