In a firm, D was admitted as a new partner, it was decided that he will bring proportionate capital so as to give him 1/6th share in the profits of the firm. Adjusted capital of A, B, and C are 81,000, 44,000, and 22,000 respectively. Calculate D's share of capital.
Answer & explanation
Correct answer: option 1
The correct answer is option 1- ₹29,400.
Total Capital of new firm = 81,000 + 44,000 + 22,000
= 1 47,000
Total share = 1
D's share = 1/6
Remaining share = 1 - 1/6
= 5/6
Total capital of the firm = 1,47,000*6/5
= 1,76,400
D's Capital = 1,76,400 x 1/6
= ₹29,400