Question

Anil, Bimal and Chetan are partners sharing their profits and losses in the ratio of 4 : 3 : 2. On 1.7.2019, Chetan retired and on that date, the capitals of Anil, Bimal and Chetan after all necessary adjustments stood at ₹ 75,000, ₹ 65,000 and ₹ 45,000 respectively. Anil and Bimal continued to carry the business for 6 months without settling Chetan's account. During the period of six months ending 31st December 2019, a profit of ₹ 50,000 is earned by the firm. Keeping Chetan's interest in mind, the amount payable to Chetan will be:

Options

• ₹ 1,350

• ₹ 13,362

• ₹ 12,162

• ₹ 1,362

Answer 1

₹ 12,162

Explanation:

Chetan's Capital = ₹ 45,000

Total Capital of Firm = ₹ 75,000 + ₹ 65,000 + ₹ 45,000 = ₹ 1,85,000

Chetan's share in Profit = `₹ 50,000 xx (45,000)/(1,85,000)`

= ₹ 12,162 (approx)