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Question
Choose the appropriate alternative from the given options:
Mohit and Rohit were partners in a firm with capitals of ₹ 80,000 and ₹ 40,000 respectively. The firm earned a profit of ₹ 30,000 during the year. Mohit's share in the profit will be:
Options
₹ 20,000
₹ 10,000
₹ 15,000
₹ 18,000
Solution
₹ 15,000
Explanation:
In the absence of a partnership deed, profits are to be shared equally among the partners. Therefore, Mohit’s share of profit will be ₹15,000 `("i"."e". 30,000 xx 1/2)`. Hence, the correct answer is ₹ 15,000.
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