Question

X, Y and Z are partners sharing profits and losses in the ratio 3:2:1. As per the partnership

deed, the deceased partner's share in profits is to be calculated on the basis of average profit of

last three years. Their profits for the last three years were as follows:

31-3-2013 Rs.54,000

31-3-2014 Rs. 48,000

31-3-2015 Rs. 51,000

X died on 30" June, 2015. Calculate X's share of profit.​

Answer 1

Answer:

average profit = (54,000 + 48,000 + 51,000) / 3 = 51,000

share of X in profit = 51,000×3/12×3/6 = 6375