In this paper we give a brief overview of the original PageRank algorithm that is used in the Google search engine. This algorithm exploits the link structure of the web and greatly improves the results of Web search. We propose a new method for the computation of page rank on the basis of penalty scores assigned to web pages which are accessed through Advertisement links. We compare the page ranks obtained using the original page rank algorithm and our proposed penalty-based page rank method. © 2006-2015 Asian Research Publishing Network (ARPN).