If opening capital is Rs. 16,500, closing capital is Rs. 11,350 and drawings were Rs. 3,300, what is the amount of profit or loss made during the year?

Profit of the year is Rs. 8,450

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Loss for the year is Rs. 8,450

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Profit for the year is Rs. 1,850

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Loss for the year is Rs. 1,850

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Solution

The correct option is D
Loss for the year is Rs. 1,850

Loss = Opening Capital - Drawings - Closing Capital

Loss = Rs. 16,500 - Rs. 3,300 - Rs. 11,350 = Rs. 1,850

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If opening capital is Rs. 16,500, closing capital is Rs. 11,350 and drawings were Rs. 3,300, what is the amount of profit or loss made during the year?

The correct option is D Loss for the year is Rs. 1,850 Loss = Opening Capital - Drawings - Closing Capital Loss = Rs. 16,500 - Rs. 3,300 - Rs. 11,350 = Rs. 1,850

The correct option is D
Loss for the year is Rs. 1,850

Loss = Opening Capital - Drawings - Closing Capital

Loss = Rs. 16,500 - Rs. 3,300 - Rs. 11,350 = Rs. 1,850