Bhanu, Chaman and Dev were partners in a firm sharing profits in the ratio of 5:4:1. The profit of the firm for the year ending on March 31, 2025 was Rs.1,00,000. Chaman died on August 31, 2025. Bhanu and Dev decided to share future profits equally. It was decided that share of profit of the deceased partner will be worked out on the basis of sales, and it is specified that the sales during the year 2024-25 were Rs. 8,00,000 and the sales from April 1, 2025 to August 31, 2025 were Rs. 1,50,000. Chaman’s share of profit for the period from April 1 to August 31, 2025 shall be: |
Rs. 18,750 Rs. 40,000 Rs. 25,000 Rs. 7,500 |
Rs. 7,500 |
The correct answer is Option (4) → Rs. 7,500 |