A and B are partners sharing profits and losses in the ratio of 5 : 3. On 1st April, 2018, C is admitted to the partnership for 1/4th share of profits. For this purpose, goodwill is to be valued at two years purchase of last three years profits (after allowing partners remuneration). Profits to be weighted 1 : 2 : 3, the greatest weight being given to last year. Net profit before partners remuneration were: 2015-16: Rs. 2,00,000; 2016-17: Rs. 2,30,000; 2017 -2018: Rs 2,50,000. The remuneration of the partners is estimated to be Rs 90,000 p.a. Calculate amount of goodwill.
