Question : Aman, Raman and Suman were partners sharing profits a ratio of 3:2:1 respectively. The profit and sales for the year ended 31 March 2017 were Rs.3 lakh and Rs.10 lakh respectively. Aman died on 30th November, 2017. Calculate the share of a deceased partner in the profits for the period from 1st April 2017 to 30th November 2017, if the same is calculated: Q. On the basis of sales which were Rs.8 lakh from 1st April 2017 to 30th November 2017.
Option 1: Rs 1,20,000
Option 2: Rs 1,40,000
Option 3: RS 2,00,000
Option 4: Rs 70,000
Correct Answer: Rs 1,20,000
Solution : Answer = Rs 1,20,000
Decreased Partner's Share of Profit = Profit/Sales x Profit = 3,00,000/10,00,000 x 8,00,000 =2,40,000 x 3/6 = 1,20,000 Hence, the correct option is 1.
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