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Explanation:
wn1 - profit after allowed and charged Atul and Mithun
Respectively
2,28,000 - 24,000 + 16,000 = 2,20,000
WN2 - intrested allowed on loan given bu atul intrest on loan = 3,00,000 × 8/100 = 24,000
WN3 - Intrest charged on loan given to mithun Intrest on loan = 2,00,000× 8/100 = 16,000
WN4 - Calculation of intrest on Capital intrest on atul loan 5,00,000× 10/100 = 50,000
Intrest on mithun
loan 6,00,000 × 10/100 = 60,000
WN5 - Calculation of profit share of each partner
Profit share by Atul - 1,20,000 × 3/5 = 72,000
Profit share by Mithun - 1,20,000 × 2/5 = 48,000
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