Solve the following:
Q. On $1^{st}$ April, 2006, an existing firm has assets of Rs 1,50,000 including cash Rs 10,000. Its creditors amounted to Rs 10,000 on that date. The firm has a Reserve Fund of Rs 20,000 while partners capital accounts showed a balance of Rs 1,20,000. If the normal rate of return is 20 % and the goodwill of the firm is valued at Rs 48,000 atc four year's purchase of Super Profit, find the average profits per year of the existing firm.