Kavita and Lalita are partners, sharing profits in the ratio of 2:1. They decide to admit Mohan for 1/4th share in future profits with a guaranteed amount of ₹25,000. Both Kavita and Lalita undertake to meet the liability arising due to the guaranteed amount to Mohan in their respective profit-sharing ratio. The firm earned profits of ₹76,000 for the year 2022-23. The deficiency borne by Kavita is:

₹4,000

The correct answer is option 1- ₹4,000

Mohan share = 1/4th
Profit of the firm = ₹76,000
Mohan's share in profit = 76,000 x 1/4
                                     = ₹19,000

Guaranteed profit of Mohan = ₹25,000
Deficiency = Guaranteed profit - Actual profit
                = 25,000 - 19,000
               = 6,000

This deficiency of ₹6,000 is borne by partners in their profit sharing ratio i.e. 2:1.

Deficiency of Kavita = 6,000 X 2/3
                               =4,000