Ram and shyam are partners with the capital of rupees 25000 and 15000 respectively interest payable on capital is 10% p.a find the interest on capital for both the partners when the profits earned by the firm is rupees 2400?
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Answer:
ioc for
Ram = 2500
Shyam=1500
but profits are insufficient to meet the ioc
Ram shyam will get ioc in propoetion 5:3
profits to ram= 2400×5/8
= 300×5
=1500Rupees
Profits to Shyam= 2400×3/8
=300×3
=900 Rupees
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