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The deed gives the profit ratio of A and B as 5:3. A guarantees B a minimum of Rs 24000. If the total profit is Rs 64000, what is B's deficiency?

Answer and explanation

Correct answer: Zero

B's share by ratio is \(\frac{3}{5+3}=\frac{3}{8}\). B's actual share = \(\frac{3}{8}\times 64000 = 24000\) Rs. The guaranteed amount is also Rs 24000, so there is no deficiency. The closest distractor (e.g. Rs 6000) arises from an incorrect calculation of the share or difference; verify the fraction first. Exam tip: always compute the partner's fractional share of total profit before comparing with the guaranteed amount.

Related tags

PartnershipGuaranteeProfit RatioAccountancyClass 12Partnership DeedPartnership Accounts Basic ConceptsClass 12 Mcq

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