Calculate the share of profit or loss of the deceased partner if he retires after 4 months of the current accounting year from the partnership firm. Last year's loss is ₹90000 and the partner's share is 1/3rd in the firm.

₹10000 (loss)

Last year loss= ₹90000
4 month loss= 90000*4/12= ₹30000
Deceased partner share of loss= 30000*1/3= ₹10000