X, Y and Z are partners and decide to share profits and losses in the ratio of their capitals. The capitals on 1st Jan., 2014 are Rs. 10,000, Rs. 15,000 and Rs. 17,000 for X, Y and Z respectively. The current account balances on that date are 2,000 (Cr.), Rs. 3,000 (Cr.) and Rs. 1,000 (Cr.) for X, Y and Z respectively. The profit sharing ratio for X, Y and Z will be

10 : 15 : 17

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12 : 18 : 18

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12: 12: 18

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2: 3 : 1

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Solution

The correct option is A 10 : 15 : 17
The profit sharing ratio has been already decided i.e in ratio of their capitals, hence the profit sharing ratio would be in the ratio of the capital contributed by the partners i.e $10, 000$ : $15, 000$ : $17, 000$ = 10:15:17.
Note: In absence of any information as to the profit sharing ratio would have be 1:1:1.

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and

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are partners in a firm sharing profits in

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