Question

Emily, Farida and Gauri were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 1. Farida was guaranteed ₹ 35,000 as her share in the profits in the firm. Any deficiency arising on that account was to be met by Emily. The firm earned a profit of ₹ 80,000 for the year ended 31^st March 2024. The profit credited to Farida’s capital account was:

विकल्प

• ₹ 30,000

• ₹ 35,000

• ₹ 25,000

• ₹ 5,000

Answer 1

₹ 35,000

Explanation:

Share in Profit (Farida) = ₹ 80,000 × `3/8` = ₹ 30,000

Add: Deficiency received from Emily = ₹ 5,000

Total amount to be Credited = ₹ 35,000