Vipul died on June 30, 2021. It is specified that the sales during the year 2020-21 was ₹10,00,000 and the sales from 1^st April 2021 to June 30, 2021 was ₹2,00,000. Calculate the amount of profit credited to Vipul at the time of his death, if the profit of 2020-21 was ₹2,00,000, considering previous year profit percentage as base, his share of profit is 1/4th.

₹ 10,000

The correct answer is Option (3) - ₹ 10,000

Profit of last year = ₹200000
Sales of last year = ₹1000000
% of profit of last year = 200000/1000000 x 100
                                 = 20%

Profit of current year for 3 months = 200000 x 20/100
                                                  = ₹40000

As profit ratio is not given means profits are shared equally.
C' share in profit upto his death = 40000 x 1/4
                                              = ₹10000