Read the following passage and answer the following question. A, B and C are partners in a firm sharing profits and losses in ratio of 2:2:1. Their capital accounts stood at ₹30,000, ₹15,000 and ₹15,000 respectively at the starting of business on 1st April,2021. As per the oral agreement between partners, C was allowed salary of ₹250 per month and interest on capitals of all partners was allowed at the rate of 5% p.a. Net profit earned for the year is ₹18,000 which was distributed between partners equally, ignoring the interest and salary clause. |
What amount of salary was given to C for the whole year? |
₹3,000 ₹2,000 ₹2,500 ₹1,500 |
₹3,000 |
The correct answer is option 1- ₹3,000. Salary per month = ₹250 Total salary for the whole year = 250 x 12 |