Question

Ram, Shyam and Balweer are partners. They share profit and loss equally. Ram is guaranteed to get ₹ 30,000 profit. Any deficiency that arises, will be borne by Shyam. During the year, they earned a profit of ₹ 60,000. Which of the following statement/statements is/are correct as per the above information:

Options

• Shyam will get ₹ 10,000 as profit.

• Balweer will get ₹ 20,000 as profit.

• Ram will get ₹ 30,000 as profit.

• All of the above

Answer 1

All of the above

Explanation:

Ram's Share = `1/3 xx ₹ 60,000` = ₹ 20,000

Deficient to be borne by Shyam = ₹ 30,000 − ₹ 20,000 = ₹ 10,000

Ram's Share = ₹ 30,000