Calculate goodwill of the firm at 3 years purchase of super profit on basis of following information-

Average capital employed- ₹100000
Normal rate of return is 11%
Salary to each partner for his service to be treated as a charge on profit- 30000 per year.
Asset of the firm including goodwill is ₹1200000 and liabilities ₹100000.
Profit of the firm- ₹160000(2016), ₹140000(2017), ₹270000(2018)

₹60000

Normal profit= 100000*11/100 = ₹110000
Average profit= 570000/3= ₹190000- 60000(salary)= ₹130000
Super profit = 130000-110000= ₹20000
Goodwill = 20000* 3 = ₹60000