Montu and Raju contribute ₹32,000 and ₹16,000 respectively towards their capital. They decide to allow interest on capital@9%p.a. Their share of profits is 3:2and net profit for the year ending 31st March,2021 before charging interest is ₹2, 700. Show distribution of profits :
(a) When there is no agreement except for interest on capitals ; and
(b) When there is an agreement that interest on capital be treated as charge.
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