Read the following information and answer the question.

A, B & C are partners sharing profits in the ratio of 2:2:1. At the end of the year, the balance sheet shows the following information-
Capital accounts of partner- A ₹6,00,000, B ₹4,80,000 C ₹4,80,000
General reserve = ₹4,40,000
Workmen compensation reserve = ₹3,60,000
Creditors = ₹2,40,000
Land =  ₹8,00,000
Building = ₹6,00,000
Furniture = ₹2,40,000
Debtors = ₹4,00,000(including ₹20,000 for provision)
Stock = ₹4,40,000
Cash = ₹1,40,000

If C retires from the firm and profit on revaluation is ₹1,90,000, then what is the share of C in revaluation?

₹38,000

The correct answer is option 4- ₹38,000.

Profit on Revaluation = ₹1,90,000
C share = 1/5
Share in revaluation profit = 1,90,000 x 1/5
                                          = ₹38,000