Question

A firm earned ₹90,000 profit. Mohit is guaranteed ₹40,000 for his \(\frac{1}{4}\) share. How much deficiency will others bear in 3:1 ratio?

• A. ₹5,000 and ₹10,000
• B. ₹13,125 and ₹4,375
• C. ₹5,000 and ₹15,000
• D. ₹7,000 and ₹10,00

Hint:

When guaranteed amount is higher than actual share, deficiency is borne by other partners in their agreed ratio by subtracting the shortfall from their shares.

Answer 1

The Correct Option is B

To solve the problem, we need to calculate how much the other partners need to bear, given the condition that Mohit is guaranteed ₹40,000 for his \(\frac{1}{4}\) share.

The total profit is ₹90,000. Since Mohit's share is \(\frac{1}{4}\), his share of the profit should be:

\(Share\ of\ Mohit = \frac{1}{4} \times 90,000 = ₹22,500\)

However, since Mohit is guaranteed ₹40,000, the deficiency amount that the firm needs to accommodate is:

\(Deficiency\ = 40,000 - 22,500 = ₹17,500\)

This deficiency needs to be shared by the other partners in a 3:1 ratio.

Let x be the amount one partner will bear. Therefore, the other partner will bear 3x.

Setting up the equation for the deficiency:

\(x + 3x = 17,500\)

\(4x = 17,500\)

\(x = \frac{17,500}{4} = ₹4,375\)

Therefore, one partner will bear ₹4,375 and the other will bear:

\(3x = 3 \times 4,375 = ₹13,125\)

Thus, the amounts the other partners need to bear are ₹13,125 and ₹4,375.