Question

Rajat, nimesh,and vishesh are partners to share profit and losses in the ratio of 4:3:3 rajat however is persionally guaranteed that vishesh's share of profit after charging interest on capital @5%p.a. would not be less than 40000p.a. their capitals were 3lak, 2lakh,1lakh the profit for the year ended march,1999 were 120000 show distribution of profit

Answer 1

Explanation:

interest on capitals

Rajat. 300000*5%=15000

nimesh. 200000*5%=10000

vishesh. 100000*5%=5000

=30000

120000-30000=90000

profits

rajat. 90000×4/10=36000

nimesh 90000×3/10=27000

vishesh 90000×3/10=27000

rajat will pay 40000-27000=13000