An account is divided into two sides. The left side of an account is known as debit and the credit.
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Ravi purchased on credit goods for ₹ 5,00,000 Less 20% Trade Discount. As per the terms, he can deduct 4% Cash Discount if he pays the full amount within 15 days. What amount he will have to pay to avail the Cash Discount?
A commenced his cloth business on $1^{\text {st }}$ April, $2018$ with a capital of $₹ 30,000$. On $31^{\text {st }}$ March $2019$ , his assets were worth $₹ 50,000$ and liabilities of $₹ 10,000$. Find out his closing capital and profits earned during the year.