CA CPT Model Test Paper 6 with solutions for online practice

Ram and Rahim are partners in a firm sharing profits and losses in the ratio 5:3. The firm’s profit or loss of last four years amounting Rs. 18,000, Rs. 8,500 (loss), Rs. 30,000 and Rs. 16,500 respectively. The value of goodwill on the basis of one and a half year’s purchase of average profits of last four years will be