Question

Abbay, Boris and Chetan were partners in a firm sharing profits in the ratio of 5 : 3 : 2. Boris was guaranteed a profit of ₹ 95,000. Any deficiency on account of this was to be borne by Abbay and Chetan equally. The firm earned a profit of ₹ 2,00,000 for the year ended 31st March, 2023. The amount given by Abbay to Boris as a guaranteed amount will be ______.

विकल्प

• ₹ 17,500

• ₹ 35,000

• ₹ 25,000

• ₹ 10,000

Answer 1

Abbay, Boris and Chetan were partners in a firm sharing profits in the ratio of 5 : 3 : 2. Boris was guaranteed a profit of ₹ 95,000. Any deficiency on account of this was to be borne by Abbay and Chetan equally. The firm earned a profit of ₹ 2,00,000 for the year ended 31st March, 2023. The amount given by Abbay to Boris as a guaranteed amount will be ₹ 17,500.

Explanation:

Total profit = ₹ 2,00,000

Profit-sharing ratio = 5 : 3 : 2

Boris’s Share of Profit = `2,00,000 xx 3/10`

= ₹ 60,000

Deficiency in Boris’s Guaranteed Profit:

Guaranteed = ₹ 95,000 

Actual = ₹ 60,000

Deficiency = 95,000 − 60,000

= ₹ 35,000

Deficiency borne by Abbay = `(35,000)/2`

= ₹ 17,500

Therefore, the amount to be given by Abbay to Boris towards the guaranteed profit is ₹ 17,500.