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Question

X and Y are partners. X's capital is Rs 10,000, Y's capital is Rs 6,000. Interest is payable at 6% p.a. Y is entitled to a salary of Rs 300 per month. Profits for current year before charging any interest and salary to Mr. Y is Rs 8,000. Divide the profit between X and Y.

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Solution

Interest on capital of X = Rs 600 and of Y = Rs 360, Salary of Y=300×12=Rs 3,600

Divisible Profit = 8,0006003603,600

= Rs 3,440

Which is to be distributed among X and Y in equal ratio i.e, Rs 1,720 each.


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