Arun and Varun are partners sharing profits & losses in the ratio of 2:1. Their opening capital being Rs. 80,000 & Rs. 50,000 respectively. They earned a profit of Rs. 20,000 before allowingthe following: i. Interest on Capital @ 8% p.a. ii. Interest on Drawings: Arun Rs. 2,000 & Varun Rs. 2,500 iii. Salary to Arun Rs. 3,000 p.a. iv. Commission to Varun Rs. 2,000 p.a
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Given : Arun and Varun are partners sharing profits & losses in the ratio of 2:1.
opening capital of Arun is 80,000.
Opening capital of Varun is 50,000.
They earned a profit of Rs. 20,000 before allowing the Salary to Arun Rs. 3000 p.a.
From the given information it is clear that option 'iii' is correct and the answer is "Salary to Arun Rs. 3,000 p.a.".
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