Question

Sita and Gita are partners sharing profits and losses in the ratio of 3 : 2 having the capital of 80000 and 50000 respectively. They are entitled to 9% p.a. interest on capital before distributing the profits. During the year firm eamed rps7,800 after allowing interest on capital, Profits apportioned among Sita and Gita is ​

Answer 1

Answer:

Here the interest on capital is already here the interest on capital is already reduced from the profits hence the interest on capitals need not be deducted from the profits while calculating the individual profits of the partners so here the 7800 is should be shared among Sita and Gita in 3 is to 2 ratio which means. bill- 7800×3/5=4680and monica - 7800×2/5=3120 

HOPE IT WAS USEFUL

THANK YOU !!