Multiple Choice Questions on Ramesh and Suresh are partners sharing profits in the ratio of 2 1 respectively Ramesh Capital is Rs........... for Commerce 12th Preparation

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Multiple Choice Questions

Ramesh and Suresh are partners sharing profits in the ratio of 2 1 respectively Ramesh Capital is Rs...........

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    Ramesh and Suresh are partners sharing profits in the ratio of 2 : 1 respectively. Ramesh Capital is Rs1,02,000 and Suresh Capital is Rs73,000. They admit Mahesh and agree to give him 1/5th share in future profit. Mahesh brings Rs14,000 as his share of goodwill. He agrees to contribute capital in the new profit sharing ratio. How much capital will be brought by Mahesh? 

    Rs43,750

    Correct Answer

    Rs45,000

    Incorrect Answer

    Rs47,250

    Incorrect Answer

    Rs48,000

    Incorrect Answer
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    Explanation:

    - Total capital of old partners =  Rs1,02,000 +  Rs73,000 = 1,75,000.

    - Mahesh's share in the profits is 1/5th, so share of other two partners = 1- 1/5 = 4/5

    - Total capital = 5/4 x 1,75,000 = 2,18,750

    - Mahesh's Capital = 1/5 x 2,18,750 = Rs 43,750

    By: santosh
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