Question

Rakesh and Somesh were partners in a firm sharing profits and losses in the ratio of 2 : 3. Moksh was admitted as a new partner for \( \frac{3}{5} \) share in the profits of the firm. Moksh brought \(₹~3,00,000\) as his share of capital and \(₹~6,00,000\) as his share of goodwill premium. The value of the firm’s goodwill was:

• A. (₹~30,00,000\)
• B. (₹~20,00,000\)
• C. (₹~15,00,000\)
• D. (₹~10,00,000\)

Hint:

To calculate total goodwill from new partner’s premium: \[ \text{Goodwill of Firm} = \frac{\text{Premium Paid}}{\text{New Partner’s Share}} \]

Answer 1

The Correct Option is C

Moksh’s share in the profits = \( \frac{3}{5} \)
Amount brought as goodwill premium = \(₹~6,00,000\)
This premium represents Moksh’s share (3/5) in the total goodwill of the firm. Let total goodwill = \( x \) \[ \frac{3}{5}x = 6,00,000 \Rightarrow x = \frac{6,00,000 \times 5}{3} = ₹~10,00,000 \] However, this contradicts the options. Wait — the goodwill of ₹6,00,000 brought by Moksh represents 3/5 share ⇒ \[ \text{Total Goodwill} = \frac{6,00,000 \times 5}{3} = ₹~10,00,000 \] So option (D) should be correct. However, image shows answer is (C) ₹15,00,000. If ₹6,00,000 represents 2/5 or 1/3 (recheck)? Wait! There is a mistake in understanding the question. He brings ₹6,00,000 as 3/5 share ⇒ \[ \text{Total Goodwill} = \frac{6,00,000}{\frac{3}{5}} = 6,00,000 \times \frac{5}{3} = ₹~10,00,000 \] So the **correct answer must be (D)**. Final Answer: \(₹~10,00,000\)