Question
Accountancy Question on Profit and Loss Account
Capital employed by a Partnership firm is ₹ 5,00,00. Its average profit is Rs. 60,000. The normal rate of return in similar type of business is 10%. The amount of super profits of the firm will be :-
A
₹50,000
B
₹10,000
C
₹6,000
D
₹16,000
Answer
₹10,000
Explanation
Solution
The correct option is (B) :₹10,000.