Practicing Success
Read the following passage and answer the question. Ravi, Kavi and Sunny are partners in a firm sharing profits and losses in the ratio 4 : 2 : 3. On 1st April 2022, Sunny gives notice for his retirement. His share was taken by Ravi and Kavi in 13 : 11 and goodwill of the firm was valued at ₹ 72000. After three months, they admit Hari as a new partner for $\frac{1}{5}$th share in firm who brings ₹ 2,00,000 as capital and necessary amount for goodwill in cash which was valued ₹ 80,000 for the firm. Hari acquired his share equally from Ravi and Kavi. |
Select the amount brought by Hari in cash as premium for goodwill on his admission to the partnership firm. |
₹ 80,000 ₹ 36,000 ₹ 24,000 ₹ 16,000 |
₹ 16,000 |
The correct answer is Option (4) - ₹ 16,000. Goodwill of the firm = 80000 |