Opening Capital Rs. 10,000, Closing Capital Rs. 21,000, Drawings Rs. 2,000, Additional Capital introduced Rs. 10,000, Profit during the year will be _________.

Rs. 3,000

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Rs. 7,000

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Rs. 13,000

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Rs. 15,000

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Solution

The correct option is A Rs. 3,000
Calculation of Profit =
Opening capital + Additional capital - Drawing - Closing capital
= 10000 + 10000 - 2000 - 21000
= 3000

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Similar questions

Opening capital Rs 60,000, Drawings Rs 5,000, capital introduced during the year Rs 10,000, closing capital Rs 90,000. Calculate profit or loss.

, 60, 000

5, 000

10, 000

90, 000

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