Question

X, Y and Z are partners sharing profits in the ratio 3 : 2 : 1. X died on 10-04-2017. The sales and profit for 2016 were Rs 2,00,000 and Rs 20,000 respectively, sales from 01-01-2017 to 10-04-2017 was Rs 1,20,000. Find the share of X’s profit.

Answer 1

alculation of profit on the basis of sales

Percentage of profit on the last year sales 

= \( \frac { 20,000 }{ 2,00,000 } \times 100 = 10%\)

Profit upto death in 2017 = 1,20,000 x \(\frac{10}{100}\)= Rs 12,000
As share in this profit = 12,000 x \(\frac{3}{6}\) = Rs 6,000
So, As profit will be Rs 6,000.