Question : A, B and C were partners sharing profits and losses in the ratio of 2:2: l. C died on 30th June, 2020. Profit and Sales for the year ended 31st March, 2020 were Rs. 1,00,000
And Rs. 10,00,000 respectively. Sales during April to June, 2020 were Rs. 1,50,000. share of profit of C till the date of his death will be__________.
Option 1: Rs 15,000
Option 2: Rs 6,000
Option 3: Rs 3,000
Option 4: None of the above
Answer (1)
18th Jan, 2024
Correct Answer: Rs 3,000
Solution :
Answer =
Rs 3,000
Profit= 10% of sales= $100\times \frac{1,00,000}{10,00,000}$= 10%.
Sale( 1 april to june 2020)= 1,50,000.
Profit= 1,50,000×10%= 15,000.
C's share=$1,50,000 \times \frac{1}{5}$= 3,000.
Hence, the correct option is 3.
Comments (0)
