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Question
A and B purchased a piece of land for Rs 20000 and sold it for Rs 60000 , where contribution of A and B was Rs 12000 & Rs 8000 respectively. What will be A's share of profit on venture?
A and B purchased a piece of land for Rs 20000 and sold it for Rs 60000 , where contribution of A and B was Rs 12000 & Rs 8000 respectively. What will be A's share of profit on venture?
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Solution
The correct option is A 24000
Profit sharing ratio can be determined by the capitals contributed by the partners : A B 12000 : 8000 i.e. 3:2Now, Profit = Sales- Cost of purchase = 60000 - 20000 = 40000- So , A's Profit = 40000*
- = 24000
Profit sharing ratio can be determined by the capitals contributed by the partners : A B
12000 : 8000 i.e. 3:2
Now,
Profit = Sales- Cost of purchase
= 60000 - 20000
= 40000
- So , A's Profit = 40000*
- = 24000
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