A, B and C are partners in the partnership firm sharing profits and losses in the ratio of 2 : 2 : 1. C died on 31st March, 2016. The profits of the financial year ending 31st March, 2016 is Rs 64,000. The share of the deceased partner in the profits will be:
Answer & explanation
Correct answer: option 4
Total profit of the year = 64000
As C died on the last date so share in whole year profit is given to him.
C' share=1/5 X 64000
=12800