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A, B and C are partners. They admit D as a partner and gurantee that his share of profit shall not be less than Rs. 20,000 p.a. Profits are to be shared in the ratio of 4 : 3 : 3 : 2 respectively. If total profits for a year were Rs. 96,000, A's share of profits will be:

A, B and C are partners. They admit D as a partner and gurantee that his share of profit shall not be less than Rs. 20,000 p.a. Profits are to be shared in the ratio of 4 : 3 : 3 : 2 respectively. If total profits for a year were Rs. 96,000, A's share of profits will be: Correct Answer Rs. 30,400.00

Related Questions

Which of the following are correct regarding rights of partners?
1. A partner has the right to allow the admission of a new partner.
2. Every partner has a right to take part in the management of business.
3. Every partner has a joint ownership of partnership property.
4. Every partner has a right to share the profit not the losses with other partners.
5. Every partner has a right to inspect the books of account and have a copy of the same.
6. In case of emergency, a partner has a right to act as a man of prudence.
Select the correct answer:
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W, X, Y are partners. They admitted Z into the firm and gave him guarantee that his share in profits will not be less than Rs. 10,000 p.a.. Profits will be shared in 4 : 3 : 3 : 2. If profit for the year is Rs. 48,000 then what is profit share of each partner?
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A, B and C are three partners in a firm. They have decided that A’s share is 1/9th of the total profit. B’s share is 1/3rd of the total profit and C’s share is 1/9th more than the sum of the A and B’s share? If the total profit is Rs. 72000, then What will be the ratio of their profits?
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