Question

45
PARTNERSHIP
ILLUSTRATION 19. A and B engaged in a business agreeing to share profits and
losses in equal ratio, their capitals being 40,00,000 and 30,00,000 respectively.
They decided to (i) transfer 5% of traded profits to reserve fund and (ii) give 10% of
the profit after reserve to Mr. A and 8% of such profit to Mr. B for their services. If
Mr. A receives a total amount of 5,81,400 for the year, then how much total amount
will Mr. B receive ?​

Answer 1

Answer:

PARTNERSHIP

ILLUSTRATION 19. A and B engaged in a business agreeing to share profits and

losses in equal ratio, their capitals being 40,00,000 and 30,00,000 respectively.

They decided to (i) transfer 5% of traded profits to reserve fund and (ii) give 10% of

the profit after reserve to Mr. A and 8% of such profit to Mr. B for their services. If

Mr. A receives a total amount of 5,81,400 for the year, then how much total amount

will Mr. B receive ?