Question

X,Y and Z are partners in the ratio of 6:4:1, in the firm X has guaranteed Z for his minimum profit of Rs.15000,firm profit was Rs.99000, in the firm profit X share will be:-​

Answer 1

Answer:

Answer is attached here

Answer 2

Given data:

• X, Y and Z are partners in a firm sharing profits and losses in the ratio 6:4:1.
• Z is guaranteed a profit of Rs 15,000 by X.
• The profit for the year was Rs 99,000.

To find: The profit share of X.

Answer:

Calculation of profit distribution:

Since the profits are shared in the ratio 6:4:1, it must be distributed accordingly.

For X:

• Profit share = Rs 99,000 × 6/11 = Rs 54,000

For Y:

• Profit share = Rs 99,000 × 4/11 = Rs 36,000

For Z:

• Profit share = Rs 99,000 × 1/11 = Rs 9,000

Deficiency of Z = Guaranteed profit - Actual profit acquired

Deficiency of Z = Rs 15,000 - Rs 9,000

Deficiency of Z = Rs 6,000

Since the deficiency is to be met by X, the deficiency will be deducted from X's share and added to Z's share.

Corrected profit distribution:

For X:

• Profit share = Rs 54,000 - Rs 6,000 = Rs 48,000

For Y:

• Profit share = Rs 36,000

For Z:

• Profit share = Rs 9,000 + Rs 6,000 = Rs 15,000

Therefore, X's share in profit is Rs 48,000.