The following figures are extracted of incomplete contract from the books of Sahara Construction Limited, Mumbai for the year ended 31st March, 2018 :
|Work certified||Rs. 7,50,000|
|Work uncertified||Rs. 50,000|
|Cash received from contractee.||80% of work certified|
|Notional profit||Rs. 3,00,000|
You are required to find out the amount of Profit and reserve.