Multiple choice

Nikita & Riya are partners in 'cake it' firm. they admited komal as new partner with the guarantee of Rs.50,000 profit. the firm earned profit of Rs.2,00,000. profit sharing ratio of Nikita,Riya & Komal is 3:5:2. state the amount of Komal's profit____________.

  1. Rs.10,000

  2. Rs.40,000

  3. Rs.50,000

  4. Rs.20,000
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Komal's share is 2/10 of the total profit. Total profit = 2,00,000. Komal's share = 2/10 * 2,00,000 = 40,000. However, she is guaranteed 50,000. Since 40,000 < 50,000, the firm must pay her the guaranteed amount of 50,000.

AI explanation

Komal's actual share is calculated as 2/10 of the Rs. 2,00,000 profit, which equals Rs. 20,000. Since the firm provided a minimum profit guarantee of Rs. 50,000, she must receive this guaranteed amount. The deficiency of Rs. 30,000 is contributed by the other partners, so Komal's final credited profit amount is Rs. 50,000.

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