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If profit Rs 90000 was wrongly shared equally among three partners but correct ratio was two to two to five how much less did the third partner receive?

Answer and explanation

Correct answer: Rs 20000

Correct share of third partner is five ninths which is Rs 50000. Under equal sharing he received Rs 30000 so deficiency is Rs 20000.

Related tags

Wrong DistributionCorrectionThird PartnerProfit DistributionPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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