Rohit, Pallavi, and Simran invest ₹56,800, ₹36,200 and ₹48,600 in a garment business. If the total profit at the end of the year is ₹5,60,028, find Rohit's share of profit.
₹2,24,644
The profit in a partnership is divided in the ratio of the capitals invested by each partner, since all three invested for the same period.
Total investment = 56,800 + 36,200 + 48,600 = ₹1,41,600.
Rohit's share of profit = (Rohit's investment / total investment) × total profit = (56,800 / 1,41,600) × 5,60,028 = (71/177) × 5,60,028 = ₹2,24,644.
Hence, the correct answer is ₹2,24,644.
Similar Questions
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Important Questions from Partnership
Kiran, Vimal and Naveen started a business by investing Rs. 1,35,000, Rs. 1,50,000 and Rs. 1,65,000 respectively. Find the share of each (respectively), out of an annual profit of Rs. 60,000.
When the incoming partner cannot bring premium for goodwill, then the necessary adjustment for goodwill is done through which one of the following?
Which one of the following rights is usually not available to a partner consequent to the dissolution of a firm?
A, B, C invest Rs. 20000, Rs. 30000, Rs. 40000 in a business. After one year, A withdrew his money but B and C continued for one more year. If the net profit after 2 years be Rs. 32000, then A’s share in the profit is:
Manoj received Rs. 6000 as his share out of the total profit of Rs. 9000 which he and Ramesh earned at the end of one year. If Manoj invested Rs. 20000 for 6 months, whereas Ramesh invested his amount for the whole year, what was the amount invested by Ramesh?
