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Cash Settlement with Retiring Partner

Given: Sal...

Question

Given:
Sales = Rs. 13000
P/V Ratio = 20%
Rent = 1000
Fixed cost = Rs. 10000
what will be Profit __________.

A

Rs. 30000

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B

Rs. 29000

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C

Rs. 16000

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D

All of these

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Solution

The correct option is C Rs. 16000
Profit = $(S a l e s \times P / V R a t i o) - f i x e d c o s t$
= $(130000 \times \frac{20}{100}) - 10000$
= 26000 - 10000
=16000
Profit will be Rs. 16000.

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