If the debt-equity ratio of Bharat Ltd is 0.4 and it has Rs 30 lakhs as total assets with Rs 10 lakh reserves & surplus, what is the amount of long term debt? Answer is given 8 lakhs but I am not getting that, I am getting 8,57,142.86
Debt+X =20,00,000 is one equation
Debt/(X+ 10,00,000)=0.4 is other
as per my calculations. The answer is not coming 8 lakhs.