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Ram, Rahim and Robert entered into partnership in the profit-sharing ratio of 2 : 3 : 5. Robert guaranteed Ram ₹ 90,000 of profit every year and if there is less he will be reimbursed the deficient -

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Question

Ram, Rahim and Robert entered into partnership in the profit-sharing ratio of 2 : 3 : 5. Robert guaranteed Ram ₹ 90,000 of profit every year and if there is less he will be reimbursed the deficient amount by him and Rahim in the ratio of 2 : 3. The profit for the year ending March 2021 was ₹ 4,00,000. How much money does Rahim have to give to Ram?

Options

  • ₹ 4,000

  • ₹ 6,000

  • ₹ 2,000

  • Nil

MCQ

Solution

₹ 6,000

Explanation:

Ram's Share = `₹ 4,00,000 xx 2/10` = ₹ 80,000

Deficiency = ₹ 90,000 − ₹ 80,000 = ₹ 10,000

Rahim's share in deficiency = `₹ 10,000 xx 3/5` = ₹ 6,000

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Distribution of Accumulated Profits, Reserves and Losses
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