CBSE 2023 · Region 2 · Set 2 · Q15

Rudra, Dev and Shiv were partners in a firm sharing profits in the ratio of $\displaystyle 5$:$\displaystyle 3$:2. Their fixed capitals were ₹ $\displaystyle 6,00,000$, ₹ $\displaystyle 4,00,000$ and ₹ $\displaystyle 2,00,000$ respectively. Besides his capital Shiv had given a loan of ₹ $\displaystyle 75,000$ to the firm. Their partnership deed provided for the following : (i) Interest on capital @ $\displaystyle 9$% p.a. (ii) Interest on partner's drawings @ $\displaystyle 12$% p.a. (iii) Salary to Rudra ₹ $\displaystyle 30,000$ per month and to Dev ₹ $\displaystyle 40,000$ per quarter. (iv) Interest on Shiv's loan @ $\displaystyle 9$% p.a. During the year Rudra withdrew ₹ $\displaystyle 50,000$ at the end of each quarter, Dev withdrew ₹ $\displaystyle 50,000$ in the beginning of each half year and Shiv withdrew ₹ $\displaystyle 70,000$ at the end of each half year. The profit of the firm for the year ended $\displaystyle 31$-$\displaystyle 3$-$\displaystyle 2022$ before allowing interest on Shiv's loan was ₹ $\displaystyle 7,06$,750. HOW much amount of net profit will be transferred to Profit and Loss Appropriation A/F: ?