CA CPT Model Test Paper 4 with solutions for online practice

Anurag and Basu entered into a joint venture and agreed to share equal profits. Anurag purchased goods costing 2,00,000, Basu sold $\frac{4}{5}$th of the goods for Rs. 2,50,000. Balance goods were taken over by Basu at cost less 20%. If same set of books is maintained, find out profit on venture