Question

A, 'B and 'C', a minor, enters into partnership agreement of equal amounts for running tyre retreading firm. During the First year, the firm made a Profit of Rs.60,000/- and during Second year they made a Loss of Rs.30,000/-. What is the proportionate share each one will have-
a) During First Year?
b) During Second Year?
c) State reasons for your answer.


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Answer 1

EXPLAINED CLEARLY IN THE PICTURE

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Answer 2

Explanation:

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