Question

Zubin, Nidhi and Reena were partners in a firm sharing profits and losses in the ratio of 2 : 1 : 2. The firm closes its books on 31st March every year. On 31st July, 2025, Reena died. Her share in the profits of the firm from the last balance sheet till the date of death was to be calculated on the basis of the previous year’s profit. The profit of the firm for the year ended 31st March, 2025 was ₹ 6,00,000.

Reena’s share of profit till the date of her death was ______.

Options

• ₹ 2,40,000

• ₹ 6,00,000

• ₹ 60,000

• ₹ 80,000

Answer 1

Zubin, Nidhi and Reena were partners in a firm sharing profits and losses in the ratio of 2 : 1 : 2. The firm closes its books on 31st March every year. On 31st July, 2025, Reena died. Her share in the profits of the firm from the last balance sheet till the date of death was to be calculated on the basis of the previous year’s profit. The profit of the firm for the year ended 31st March, 2025 was ₹ 6,00,000.

Reena’s share of profit till the date of her death was ₹ 80,000.

Explanation:

1. Calculate Total Profit for 4 Months:

The previous year’s profit of ₹ 6,00,000

Estimated profit for 4 months = `6,00,000 xx 4/12`

= 2,00,000

2. Calculate Reena’s Share of that Profit:

Reena’s Share = `2,00,000 xx 2/5`

= 80,000