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Q.

Ram, Shyam and Mohan are partners sharing profits in the ratio of 3:3:2. As per the partnership agreement, Mohan is to get a minimum amount of Rs.80,000 as his share of profits every year and any deficiency on this account is to be personally borne by Ram. The net profit for the year ended 31st March 2020 amounted to Rs.3,12,000/-. What will be the amount of deficiency to be borne by Ram?

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a

Rs.2,000/-

b

Rs.8,000/-

c

Rs.4,000/-

d

Rs.1,000/-

answer is B.

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Detailed Solution

Mohan’s share $= 3, 12, 000 \times \frac{2}{8} = 78, 000$

Deficit to be born by Ram = 80,000 – 78,000 = 2,000.

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Ram, Shyam and Mohan are partners sharing profits in the ratio of 3:3:2. As per the partnership agreement, Mohan is to get a minimum amount of Rs.80,000 as his share of profits every year and any deficiency on this account is to be personally borne by Ram. The net profit for the year ended 31st March 2020 amounted to Rs.3,12,000/-. What will be the amount of deficiency to be borne by Ram?