A and B are partners sharing profits equally. They admit C into partnership for equal share with a guaranteed profit of ₹20000 per year. The books of the firm revealed following information-
Profits of the last 4 years is:
2016- ₹70000
2017- ₹100000
2018- ₹55000(loss)
2019- ₹145000

What is the super profit if capital employed is ₹500000 and market rate of return is 10%?

₹15000

NORMAL PROFIT= 500000*10/100 = ₹50000
TOTAL PROFIT= 70000+100000-55000+145000 =₹260000
AVERAGE PROFIT= 260000/4= ₹65000
SUPER PROFIT= 65000-50000= ₹15000