A business has opening capital of Rs 2,00,000. During the year, it earned a profit of Rs 50,000, owner withdrew Rs 30,000, and fresh capital of Rs 40,000 was introduced. What is the closing capital?
A. Rs 2,60,000
B. Rs 2,90,000
C. Rs 2,20,000
D. Rs 2,40,000
Answer: Option A
Solution (By JKSSB Mock Tests)
Closing Capital = Opening (2,00,000) + Profit (50,000) + Fresh (40,000) - Drawings (30,000) = Rs 2,60,000.
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