Anu, Minu & Sinu are in Partnership with a profit sharing ratio of 2:1

1.	Anu, Minu & Sinu are in Partnership with a profit sharing ratio of 2:1 :1, but Sinu is given a guarantee to get a minimum profit of Rs. 20,000/. During the year the firm get a net profit of Rs. 1,00,000/- then what will be the share of profit due to Sinu?
Answer» A:M:S = 2:1:1 Guaranteed amount of profit = 20,000 Net Profit = 1,00,000 Sinu’s share = 1/4 = 1,00,000x 1/4 = 25,000 Sinu should get her actual share of profit i.e. Rs. 25,000. Since her actual share of profit is more than the guaranteed amount of Rs. 20,000/-.

Anu, Minu & Sinu are in Partnership with a profit sharing ratio of 2:1 :1, but Sinu is given a guarantee to get a minimum profit of Rs. 20,000/. During the year the firm get a net profit of Rs. 1,00,000/- then what will be the share of profit due to Sinu?

Answer»

A:M:S = 2:1:1

Guaranteed amount of profit = 20,000

Net Profit = 1,00,000

Sinu’s share = 1/4 = 1,00,000x 1/4 = 25,000

Sinu should get her actual share of profit i.e. Rs. 25,000. Since her actual share of profit is more than the guaranteed amount of Rs. 20,000/-.