Correct Answer: Rs.4,80,000

Solution : Answer = 4,80,000

Total Assets to DeBT Ratio = Total Assets / DeBT

$\frac{2 \cdot 8}{1}=\frac{\text { Dial Assets }}{1600,000}$

$\begin{aligned} \text { Debt }= & \text { Capital Employed }- \text { Share Holder fund } \\ = & 40,00,000-24,00,000 \\ = & 16,00,000 \\ \text { Total Assets } & =16,00,000 \times 2.8 \\ = & 44,80,000 \\ \text { Total Assets }= & \text { Share Holder fund } \\ & \quad+\text { Total debt }\end{aligned}$

44,80,000 = 24,00,000 + Total Debt

Total Debt = 44,80,000 - 24,00,000

= 20,80,000

Total Debt  = Long-term Debt + C. liab

20,80,000 = 16,00,000 + C. liab

C. liab = 20,80,000 - 16,00,000

= 4,80,000
Hence, the correct option is 2.