A person started a business with capital of ` 50000 and he takes loan from his relative ` 5000. Profit for the year is ` 20000 and drawings ` 4000. What will be the amount of closing capital?

A person started a business with capital of ` 50000 and he takes loan

1.	A person started a business with capital of ` 50000 and he takes loan from his relative ` 5000. Profit for the year is ` 20000 and drawings ` 4000. What will be the amount of closing capital?
A.	` 60000
B.	` 51000
C.	` 56000
D.	` 66000
Answer» E.

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A person started a business with capital of ` 50000 and he takes loan from his relative ` 5000. Profit for the year is ` 20000 and drawings ` 4000. What will be the amount of closing capital?

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