Question 4 An Islamic bank bought goods for $100,000 and it entered into a Mudarahah contract with a client in which the goods were the mudarib capital. At the time of the contract, the goods had a fair value of $110,000. The Madarib (client) sold the goods for $120,000 i. During the same year, the mudarib bought another consignment of goods at $120,000 and sold it for $130,000. ii. Profit is allocated between the Islamic Bank and the Mudarib at the ratio of 70% to 30% respectively. Requured: Determine the profit of the Islamic Bank if the Mudarabah goods are valued at: i. Historical cost ii. Fair value