question_answer

L and M were partners in a firm. They admitted N as a new partner for 20% share in the profits. After all adjustments regarding general reserve, goodwill, gain or loss on revaluation, the balances in capital accounts of L and M were Rs. 1,92,500 and Rs. 2,07,500 respectively N brought proportionate capital so as to give him 20% share in the profits. Calculate the amount of capital to be brought by N.

Answer:

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