Question

Any, Tom & Bob are partners in the ratio of 2:2:1. Tom dies in Feb, 2014. They have taken life insurance policies, the premiums of which are debited to P & L a/c. How much amount is paid to the legal representatives of Tom? a) Rs.7,90,000 b) Rs.2,80,000 c) Rs.3,16,000 d) Rs.7,00,000

Answer 1

280000 is the answer