Question:
Alex, Benn, and Cole were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They admitted Dona as a new partner for $\frac{1{5}$ share in the future profits. Dona agreed to contribute proportionate capital. On the date of admission, capitals of Alex, Benn, and Cole after all adjustments were \rupee1,20,000; \rupee80,000; and \rupee1,00,000, respectively. The amount of capital brought in by Dona will be:}
Alex, Benn, and Cole were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They admitted Dona as a new partner for $\frac{1{5}$ share in the future profits. Dona agreed to contribute proportionate capital. On the date of admission, capitals of Alex, Benn, and Cole after all adjustments were \rupee1,20,000; \rupee80,000; and \rupee1,00,000, respectively. The amount of capital brought in by Dona will be:}
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When a new partner is admitted, their capital contribution is calculated in proportion to the existing partners’ capital.
Updated On: Jan 20, 2025
- \rupee75,000
- \rupee70,000
- \rupee65,000
- \rupee60,000
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The Correct Option is A
Solution and Explanation
Total adjusted capitals of Alex, Benn, and Cole = \rupee1,20,000 + \rupee80,000 + \rupee1,00,000 = \rupee3,00,000.
Dona’s capital based on her share = $\frac{1}{5} \times \rupee3,00,000 = \rupee75,000$.
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