Ram and Mohan were in partnership sharing profits and losses in ratio of 3:2 Investments stood in Balance Sheet at ₹1,40,000 on dissolution of firm, Ram took over some of Investments at ₹8,100 (book value less 10%) while remaining investment were taken over by Mohan at 90% of book value less ₹900 discount. At what value, did Mohan took over investment?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → ₹1,17,000
The book value of the investments Ram took is found first, and Mohan takes the rest:
Book value of Ram's part = ₹8,100 ÷ 90% = ₹9,000
Book value of Mohan's part = ₹1,40,000 − ₹9,000 = ₹1,31,000
90% of ₹1,31,000 = ₹1,17,900
Value taken over by Mohan = ₹1,17,900 − ₹900 = ₹1,17,000
NCERT (2026-27 edition):
NCERT (2026-27 edition):
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