A business has earned average profit of Rs 4,00,000 during the last few years and the normal rate of return in similar business is 10%. Find value of goodwill by:

(i) Capitalisation of Super Profit Method; and

(ii) Super Profit Method if the goodwill is valued at 3 years' purchase of super profit.

?Assets of the business were Rs 40,00,000 and its external liabilities Rs 7,20,000.       (3 marks)