Practicing Success
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 ₹10500. |
What will be the R's share in profit? |
₹3500 ₹4500 ₹7000 ₹5000 |
₹3500 |
The correct answer is option 1 i.e. ₹3500. 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. |