Practicing Success
Practicing Success
CUET Preparation Today
| Rita, Sudha, and Nitu decided to do transport business in partnership. For this purpose, they did not prepare any deed. They introduced their capitals, 50,000, 60,000 and 40,000 respectively and commenced business. After some time, Nitu provided Rs 15,000 as a loan to the firm on the requirement. At the end of the first financial year, the firm earned a net profit of Rs 10,000 (excluding interest on loan). Nitu asked for interest on the loan at 10% p.a, while Sudha asked for interest on capital at 5% p.a. But for both terms, Rita did not agree. Answer the following questions on the basis of this case- |
| In which ratio, Rita, Sudha, and Nitu will share the profit ? |
5:6:4 3:2:1 1:1:1 None of these |
| 1:1:1 |
| According partnership Act, there will be equal ratio for profit sharing. |
