Profits of a firm for the year ended 31st March for the last five years were:
| Year Ended | 31st March, 2021 | 31st March, 2022 | 31st March, 2023 | 31st March, 2024 | 31st March, 2025 |
|---|---|---|---|---|---|
| Profits (₹) | 20,000 | 24,000 | 30,000 | 25,000 | 18,000 |
Calculate value of goodwill on the basis of three years’ purchase of Weighted Average Profit after assigning weights 1, 2, 3, 4 and 5 respectively to the profits for years ended 31st March, 2021, 2022, 2023, 2024 and 2025.
Answer :