Question

a,b & c center into a partnership. their contributions are rs.30lakhs,rs.20lakhs and rs.10lakhs respectively. a and b are working partner while c is sleeping partner. a and b get 10% and 15% of gross profit respectively as salary for managing the businessess. if at the year end c receives rs. 3.75 lakhs, as profit, find the share of a.

Answer 1

The share of a, given, the contributions of a,b and c and the profit received by c, is Rs. 14.25 lakhs

• Given,
• a,b and c center into a partnership
• a's contribution Rs. 30 lakhs
• b's contribution Rs. 20 lakhs
• c's contribution Rs. 10 lakhs
• gross profit of a is 10%
• gross profit of b is 15%
• profit received by c is Rs. 3.75 lakhs
• Now,
• consider gross profit be "g"
• a's salary $=\frac{10}{100}g=0.1g$
• b's salary $=\frac{15}{100}g=0.15g$
• The ratio of capital contribution is given by,
• a:b:c=30:20:10=3:2:1
• sum of the ratios =3+2+1=6
• c's share in the net profit
• $=\frac{1}{6}*[1-(0.1+0.15)g]\\\\=\frac{1}{6}*0.75g$
• given,
• $3.75=\frac{0.75}{6}g\\\\g=6*\frac{3.75}{0.75} =30$
• a's share
• $=0.10g+\frac{3}{6}*0.75g\\\\=0.10(30)+\frac{3}{6}*0.75(30)\\\\=0.475 * 30\\\\=Rs. 14.25 lakhs$

Answer 2

The share of A is 14.25 lakhs.

To find : Share of A.

Given :

A, B and C center into partnership.

A contributes = Rs. 30 lakhs

B contributes = Rs. 20 lakhs

C contributes = Rs. 10 lakhs

A and B are working partner.

C is sleeping partner.                                        

A gets 10% of gross profit.

B gets 15% of gross profit.

Consider gross profit be "GP".

Let, A's salary = 10% GP = $\frac{10}{100}$ GP = 0.10 GP

      B's salary = 15% GP  = $\frac{15}{100}$ GP = 0.15 GP

Net profit = Gross Profit - ( A's salary + B's salary )

                = GP - ( 0.10 GP + 0.15 GP )

                = GP - 0.10 GP - 0.15 GP

                = GP ( 1 - 0.10 - 0.15)

                = 0.75 GP              

Net profit shared among three partners are expressed in proportion to their capital contributions.

Capital contribution ratio ⇒ A : B : C = 30 : 20 : 10

                                              A : B : C = 3 : 2 : 1

Sum of the ratios = 3 + 2 + 1 = 6

C's share in GP = $\frac{1}{6}\times0.75 GP$

C's share at the end of year C receives Rs. 3.75 lakhs

C's share in GP = $\frac{1}{6}\times0.75 GP$ = 3.75

             $\frac{0.75}{6} GP = 3.75$

                   GP = 6 × $\frac{3.75}{0.75}$

                         = 6 × 5

                   GP = 30

Hence, GP = Rs. 30 lakhs

Total share of A :

Share A = Sum of their salary + [(ratio of the individual A or B or C) × (share in the net profit)]

Their salary = 0.10 GP

Share in the net profit =  $\frac{1}{6}\times0.75 GP$

A's share = 0.10 GP +  $\frac{3}{6} \times 0.75$ GP

                = 0.10 GP + 0.375 GP

A's share = 0.475 GP

We know that,  GP = 30 lakhs

A's share = 0.475 × 30

                = 14.25 lakhs.

Therefore, A's share is 14.25 lakhs.

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