Gee Limited (GL) is an associate of Jee Pee Limited (JPL). During the year, JPL sold goods of selling price ₹3,00,000 to GL. On March 31, 2011, closing stock of GL comprised stock amounting to  ₹70,000 out of the goods purchased from JPL. Financial statements of JPL disclose a gross profit margin of 25% for the year 2010–11. Show how unrealized profit is to be eliminated by JPL on March 31, 2011 when JPL holds 45% shares of GL.