X Ltd. has a Current Ratio of 3.5:1 and a Quick Ratio of 2: 1. If the excess of current assets over quick assets represented by inventories is ₹24,000. Calculate current liabilities.

₹16000

Current ratio = Current assets / Current liabilities = 3.5/1
Quick ratio =   Quick assets / Current liabilities  = 2/1
Let Us assume assets as x
Current assets - Quick assets = Inventories
3.5x - 2.5x = 24000
1.5x = 24000
  x = 24000 X 10/15
     = 16000
So current assets = 16000 X 3.5
                          = ₹56000
Current ratio = Current assets / Current liabilities = 3.5/1
3.5/1 = 56000/ CL
CL = 56000/3.5
     = 16000