CBSE 2023 · Region 5 · Set 1 · Q11

Khushi, Namita and Manvi were partners in a firm sharing profits and losses in the ratio of $\displaystyle 5$ : $\displaystyle 2$ : 3. On $\displaystyle 30$**$\displaystyle 1$ June, $\displaystyle 2022$, Khushi died. The partnership deed provided that on the death of a partner, her share of profit till the date of death was to be calculated on the basis of average profit of last three years less ₹ $\displaystyle 10$,000. Profits for the last three years were : Year ended Profits/Loss ($\displaystyle 1$) 31st March, $\displaystyle 2020$ $\displaystyle 1,20,000$ 31st March, $\displaystyle 2021$ $\displaystyle (50,000)$ 31st March, $\displaystyle 2022$ $\displaystyle 1,70,000$ Khushi's share of profit till the date of her death was :