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hi rahul...

i think your 4 one is wrong......

according to me...capital base will be 48480000,reasonable return.......6293600

@ Varun Agarwal
 

I think you have wrongly included Debtors in the Average Current Assets figure which is a contravention of the provisions of Electricity Supply Act as applicable in the calculation of capital base.

Here I would like to clarify that the answer of Q 4 is

CAPITAL BASE = Rs 4,77,80,000                                    REASONABLE RETURN = Rs 62,09,600                        

Soory for inconvinience due to wrong posting of the answer