Multiple choice

A, B and C are the partners sharing profits and losses in the ratio of $5:3:2$, took a joint life policy of Rs. $30,000$. On the death of B what amount will be payable to each partner will be ____________.

  1. A- Rs. $22,000$ and B- Rs. $8,000$
  2. A- Rs. $14,000$ and B- Rs. $16,000$
  3. A- Rs. $15,000$, B- Rs. $9,000$ and C- Rs. $6,000$
  4. A- Rs. $10,000$, B- Rs. $8,000$ and C- Rs. $10,000$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The joint life policy amount is shared among partners in their profit-sharing ratio. Ratio 5:3:2. Total parts = 10. Each part = 30,000 / 10 = 3,000. A gets 5 * 3,000 = 15,000. B gets 3 * 3,000 = 9,000. C gets 2 * 3,000 = 6,000.

AI explanation

The partners share the proceeds of the joint life policy in their profit-sharing ratio of 5 : 3 : 2. The total policy amount is Rs. 30,000, and the sum of the ratio parts is 10. A's share is (5 / 10) x 30000 = Rs. 15,000, B's share is (3 / 10) x 30000 = Rs. 9,000, and C's share is (2 / 10) x 30000 = Rs. 6,000.

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