X, Y and Z were partners sharing profits in the ratio of 5:3:2. Accord

1.	X, Y and Z were partners sharing profits in the ratio of 5:3:2. According to thepartnership agreement Z is to get a minimum amount of Rs 10,000 as his share of profits every year. The net profit for the year ended 31st March 2019 amounted to Rs 40,000. Calculate the amount of deficiency
Answer» Answer: 2000 DEFICIENCY EXPLANATION: X will GET 40,000×5/10 20,000 Y will get 40,000×3/10 12000 Z will get 40,000×2/10 8000 minimum amount to GIVE to Z is 10,000 but his share is 8000 so 10,000-8000 2000 deficiency

X, Y and Z were partners sharing profits in the ratio of 5:3:2. According to thepartnership agreement Z is to get a minimum amount of Rs 10,000 as his share of profits every year. The net profit for the year ended 31st March 2019 amounted to Rs 40,000. Calculate the amount of deficiency

Answer»

Answer:

2000 DEFICIENCY

X will GET 40,000×5/10

20,000

Y will get 40,000×3/10

12000

Z will get 40,000×2/10

8000

minimum amount to GIVE to Z is 10,000 but his share is 8000 so 10,000-8000

2000 deficiency