Question

Navya, Kartik and Samir were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 1. Samir was given a guarantee that his share of profit in any year will not be less than ₹ 57,000. Any deficiency on this account was to be borne by Navya and Kartik equally. The firm earned a profit of ₹ 4,00,000 during the year ended 31st March, 2025. The amount of deficiency borne by Kartik was ______.

विकल्प

• ₹ 3,500

• ₹ 4,000

• ₹ 3,000

• ₹ 7,000

Answer 1

Navya, Kartik and Samir were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 1. Samir was given a guarantee that his share of profit in any year will not be less than ₹ 57,000. Any deficiency on this account was to be borne by Navya and Kartik equally. The firm earned a profit of ₹ 4,00,000 during the year ended 31st March, 2025. The amount of deficiency borne by Kartik was ₹ 3,500.

Explanation:

1. Calculate Samir’s Actual Share of Profit:

Total Profit = ₹ 4,00,000

Samir’s Share = `4,00,000 xx 1/8`

= 50,000

2. Determine the Deficiency:

Guaranteed Amount = ₹ 57,000

Actual Share = ₹ 50,000

Total Deficiency = 57,000 − 50,000

= 7,000

3. Calculate Kartik’s Share of Deficiency:

The agreement states the deficiency is to be borne by Navya and Kartik equally.

Kartik’s Share = `7,000/2`

= 3,500