Multiple choice

A,B and C are three partner sharing profit and loss 3:2:1 A dies on 30th June, 2012, If the total profit for the year ending 31st march ,2013 amounted to Rs. 30,000. What would be the share of profit to be credited to A's A/c ?

  1. Rs.3750

  2. Rs.5000

  3. Rs.8000

  4. Rs.5500
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A Correct answer
Explanation

A's profit share is 3/6 of the annual profit, since the partners share profits in the ratio 3:2:1. A was entitled to profit for three months, so the amount is 30000 × 3/6 × 3/12 = Rs. 3750.

AI explanation

A is entitled to a share of the profit for the 3 months from April 1 to June 30, which is 3/12 of the financial year. The firm's time-apportioned profit is 3/12 of Rs. 30,000, equaling Rs. 7,500. A's share is 3/6 of this amount, which calculates to Rs. 3,750.

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