Aayush and Aarushi are partners sharing profits and losses in the ratio of 3:2. They admitted Naveen into partnership for 1/4th share. Goodwill of the firm was to be valued at three years’ purchase of super profits. Average net profit of the firm was 20,000. Capital investment in the business was 50,000 and Normal Rate of Return was 10%. Calculate the amount of Goodwill premium brought by Naveen.

Marks-3, CBSE:2022-23/Zone-5/Set-1/Q-17

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