X and Y are partners, having capital of Rs 5,00,000 and 1,30,000 respectively shares the profit in the ratio 1:2. Interest on partner's capital will be provided at 10%. Y is entitled to get the salary RS 1,000 p.m for being working partner additionally. Profit for the year was Rs 60,000. Calculate the amount given to X and Y ?

"X- 20,000 Y- 40,000" "X- 50,000 Y - 25,000" "X- 40,000 y - 20,000" "X- 25,000 Y - 50,000"

"X- 40,000 y - 20,000"

" X- 5,00,000 * 10% = 50,000 Y- 1,30,000*10%= 13,000 + (1000*12) 12,000 Y - 25,000 50,000 : 25,000 2:1 60,000 *2/3= 40,000 60,000 * 1/3 = 20,000 When Profit available is less than the amount of appropriation to be made, the available profit will be distributed in the ratio of appropriation to be made. "