P, Q & R are partners in a partnership firm named RAWAT SOLUTIONS and sharing profits in the ratio of 4:3:1. Q retires and sold his share of profits to other partners for ₹8100. ₹3600 was paid by P and ₹4500 was paid by R. Profit for the year after Q's retirement is ₹10,500.
What will be the R's share in profit?
Answer & explanation
Correct answer: option 1
The correct answer is option 1- ₹3,500.
As Q is retired from the firm and this profit is after his retirement so it will be distributed in the new ratio means 2:1.
P's share = 10,500 x 2/3
= 21,000/3
= 7,000
R's share = 10,500 x 1/3
= 3,500