Kavi, Mani, Vinayagam are partners in a firm sharing profits in the ratio of 2 : 1 : 1. Mani Retires. Kavi and Vinayagam decided to keep the capital of the firm at ₹1,20,000. The capital A/c of the partners showed a credit balance of ₹82,000/- for Kavi and ₹41,000/- for Vinayagam after all adjustment. The actual cash to be paid to Kavi and Vinayagam are.
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → ₹2,000 and ₹1,000
After Mani retires, Kavi and Vinayagam share profits 2 : 1 (their old ratio 2 : 1).
Kavi’s required capital = ₹1,20,000 × 2/3 = ₹80,000
Vinayagam’s required capital = ₹1,20,000 × 1/3 = ₹40,000
Excess to be paid to Kavi = ₹82,000 − ₹80,000 = ₹2,000
Excess to be paid to Vinayagam = ₹41,000 − ₹40,000 = ₹1,000
NCERT (2026-27 edition):
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