Read the following passage and answer the question.
X, Y, Z were partners sharing profits and losses in the ratio of 4:3:2. Z retired on 1st July, 2021 on which date the capitals of X, Y, Z after all necessary adjustments stood at ₹75,000, ₹65,000 and ₹45,000 respectively. X & Y continued to carry on the business for 6 months without settling the account of Z. During the period of 6 months ended 31st December, 2021, a profit of ₹50,000 is earned by the firm.
If share in the profit is given to retired partner Z for using his balance then what will be the share of Z?
Answer & explanation
Correct answer: option 3
The correct answer is option 3- ₹12,162.
Capital of X & Y = 75,000 + 65,000
= 1,40,000
Balance of Z = 45,000
Profit earned for the 6 months is ₹50,000
Share will be = (50,000 x 45,000) / (1,40,000 + 45,000)
= 50,000 x 45,000/1,85,000
= ₹12162