Question : Mohit and Rohit were partners in a firm with the capitals of Rs.80,000 and Rs.40,000 respectively. The firm earned a profit of Rs.30,000 during the year. Mohit's share in the profit will be:
Option 1: Rs.20,000
Option 2: Rs.10,000
Option 3: Rs.15,000
Option 4: Rs.18,000
Answer (1)
25th Jan, 2024
Correct Answer: Rs.15,000
Solution :
Profit is to be distributed in an equal ratio in the absence of any information. Therefore, profit of Rs.30,000 is distributed in 1:1.
Mohit's share of profit = Rs.30,000 X 1/2 = Rs.15,000
Rohit's share of profit = Rs.30,000 X 1/2 = Rs.15,000
Hence, the correct option is 3.
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