Practicing Success
If X share of profit was to be calculated on the basis of the Average Profit of the last three years, which were ₹1,36,000 for 2018-19, ₹1,54,000 for 2019-20, and ₹1,00,000 for 2020-21. X share of profit for the period from April 01, 2020 to June 30, 2020 shall be calculated on the basis of Average Profit. The profit-sharing ratio is 4: 5: 1 between X, Y, and Z. His share of the profit will be: |
₹26000 ₹13000 ₹10000 ₹12000 |
₹13000 |
Average profits = (136000 + 154000 + 100000) /3 |