Question

Q4 P, Q, and R are partners in 3 : 2 : 1. R is guaranteed that his share of profit will not be less than ₹70,000. Any deficiency will be borne by P and Q in the ratio of 2 : 1. Firm’s profit was ₹2,40,000. Share of P will be :

₹1,00,000

₹1,10,000

₹1,20,000

₹1,02,000​

Answer 1

Answer:

1,00,000

Explanation:

1,00,000

Answer 2

Answer:

Rs 1,00,000

Explanation:

Profit sharing ratio of P Q and R= 3:2:1

3z + 2z + 1z = 6z

Profit = 2,40,000

6z= 2,40,000

z= 40,000

P's share in profit= 3×40,000

= 1,20,000

Q's share in profit= 2×40,000

= 80,000

R's share in profit= 1×40,000

= 40,000

Profit Guaranteed to R = 70,000

Profits provided to R= 40,000

Deficiency= 70,000-40,000

=30,000

Ratio of deficiency borne by P and Q = 2:1

2x + 1x = 30,000

3x = 30,000

x= 10,000

P's amount = 2× 10,000

= 20,000

similarly R's amount will be 10,000.

Share of P = 1,20,000-20,000

= 1,00,000//

Answer: (a) 1,00,000 Rs