Question

Mohit and Rohit were partners in a firm with capitals of Rs. 80,000 and Rs.
40,000 respectively. The firm earned a profit of Rs. 30,000 during the year.
Mohit's share in the profit will be

Answer 1

In the absence of a partnership deed, profits are to be shared equally among the partners. Therefore, Mohit's share of profit will be ₹15,000 (i.e. 30,000 x `1/2`). Hence, the correct answer is ₹ 15,000.