. A and B contribute ₹1,00,000 and ?₹60,000 respectively in a partnership firm by way of capital on which they agree to allow interest @ 8% p.a. Their profit or loss sharing ratio is 3 : 2. The profit at the end of the year was ₹2,800 before allowing interest on capital. If there is a clear agreement that interest on capital will be paid even in case of loss, then S’s share will be:
Answers
Solution :-
→ A contribute = Rs.100000
→ Interest rate = 8% per annum .
so,
→ Interest on capital of A = (100000 * 8)/100 = Rs.8000
and,
→ B contribute = Rs.60000
→ Interest rate = 8% per annum .
so,
→ Interest on capital of B = (60000 * 8)/100 = Rs.4800
now,
→ Credit = Rs.2800
→ Debit = 8000 + 4800 = Rs.12800
then,
→ Balancing figure = 12800 - 2800 = Rs.10000
since Their profit or loss sharing ratio is 3 : 2.
therefore,
→ Loss share of A = 10000 * (3/5) = Rs.6000
→ Loss share of B = 10000 * (2/5) = Rs.4000 .
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