Question

If opening capital is ks 70000 and closing capital is ks 90000, what is the amount of profit or loss​

Answer 1

20,000

Step-by-step explanation:

The computation of the amount of profit or loss is given below:

As we know that

Closing capital = opening capital + profit or loss - drawings

90,000 = 70,000 + profit or loss - 0

Profit = 90,000 - 70,000

= 20,000

Hence, the amount of profit is 20,000