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Y started a b...

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Y started a business on 1st April, 2013 with a Capital of ₹ 2,00,000 and a loan of ₹ 75,000 from the bank. During the year, he had introduced additional capital of ₹ 60,000 and had withdrawn ₹ 36,000 for personal purposes. On 31st March, 2014 his assets were ₹ 3,80,000. Find out his Capital as on 31st March, 2014 and profit earned during the year 2013-14.

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Solution

Opening Capital (Capital as on 1^st April, 2013) = Rs 2,00,000

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