Question

A, B and C are partners. A's capital is ₹ 5,00,000 and B's capital is ₹ 4,00,000. C has invested just ₹ 10,000 as capital. However, C devotes the maximum time in activities of the business and therefore he claims ₹ 30,000 p.a. as salary. Firm earned a profit of ₹ 1,20,000. How much will be each partner's share of profit:

Answer 1

Answer: 120000/3

              =40000

Explanation: According to The Partnership Act 1932 in the case of absence of partnership deed all partners are equally entitled to receive profit ,it is not matter that how much they introduced.