X, Y & Z are partners in a partnership firm and Y retires and his claim including his capital and share of goodwill is ₹120000. He is paid partly in cash and partly in kind. A vehicle valued at ₹60000 is unrecorded in the books of account and the balance is given to him in cash to settle his account. How much amount will Y get in cash on his retirement?

₹80000

₹60000 of the vehicle is recorded in revaluation A/c and this is profit for the firm which should be distributed to all partners in their old ratio.
So, 60000 should be equally divided between partners.
And due to it, Y will get 60000*1/3= 20000 more.
So, the total share of Y is 120000+20000= ₹140000
As a vehicle of ₹60000 is given so the remaining balance will be (140000-60000) i.e. ₹80000 will be given in cash.