[CBSE] Q. 23 DK Goel Fundamentals of Partnership [2024-25]

Solution of Question Number 23 of the Fundamentals of partnership firm DK Goel CBSE Board (2024-25)

X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2 with capitals of ₹ 10,00,000 and ₹ 5,00,00 respectively. As per the partnership deed, they are to be allowed interest on capital @ 8% p.a. The net profit for the year ended 31st March, 2023 before providing for interest on capital amounted to ₹ 45,000. Show the distribution of profit.

[Ans. Interest on capital allowed to X ₹ 30,000 and Y ₹ 15,000.]

Solution:-

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