Question

Sohan and Mohan are partners sharing profits and losses in the ratio of 2 : 3 with capitals of ₹ 5,00,000 and ₹ 6,00,000, respectively. On 1st January 2022, Sohan and Mohan granted loans of ₹ 20,000 and ₹ 10,000, respectively, to the firm. Determine the amount of loss borne by each partner for the year ended 31st March 2022 if the loss before interest for the year amounted to ₹ 2,500.

पर्याय

• Share of Loss: Sohan – ₹ 1,250, Mohan – ₹ 1,250

• Share of Loss: Sohan – ₹ 1,000, Mohan – ₹ 1,500

• Share of Loss: Sohan – ₹ 820, Mohan – ₹ 1,230

• Share of Loss: Sohan – ₹ 1,180, Mohan – ₹ 1,770

Answer 1

Share of Loss: Sohan – ₹ 1,180, Mohan – ₹ 1,770

Explanation:

Calculate the total interest on the loan:

Sohan = `20,000 xx 6/100 xx 3/12`

= ₹ 300

Sohan = `10,000 xx 6/100 xx 3/12`

= ₹ 150

Total interest = 300 + 150

= ₹ 450

Net loss for the year = 2,500 + 300 + 150

= 2,950

Dividing the share of loss between the partners:

Sohan’s loss = `2,950 xx 2/5`

= 1,180

Mohan’s loss = `2,950 xx 3/5`

= 1,770