Question

Ekta, Faguni and Garima were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 1. Faguni was guaranteed ₹ 25,000 as her share of profit in the firm. Any deficiency arising on that account was to be met by Ekta. The firm earned a profit of ₹ 90,000 for the year ended 31st March, 2024.
The profit credited to Faguni’s capital account was:

• A. ₹ 30,000
• B. ₹ 40,000
• C. ₹ 25,000
• D. ₹ 10,000

Hint:

If a partner is guaranteed a minimum profit and actual share is less, the deficiency is borne as per agreement—usually by another partner or all partners in ratio.

Answer 1

The Correct Option is C

Total profit = ₹ 90,000
Profit-sharing ratio = 5 : 3 : 1 (Total parts = 9)
Faguni's normal share = \( \frac{3}{9} \times 90,000 = ₹ 30,000 \) However, this is more than her guaranteed amount (₹ 25,000), so no deficiency arises. But the question says "any deficiency to be met by Ekta". This implies Faguni's actual share is less than ₹ 25,000. Let’s recheck:
Faguni’s share = \( \frac{3}{9} \times 90,000 = ₹ 30,000 \Rightarrow \) more than ₹ 25,000.
So the guarantee is irrelevant, and Faguni will receive ₹ 30,000. However, if the profit were ₹ 60,000, then Faguni's share would be \( \frac{3}{9} \times 60,000 = ₹ 20,000 \), which is ₹ 5,000 short.
Ekta would have to contribute ₹ 5,000 from her share. But in this case, since profit is ₹ 90,000, Faguni gets her regular share of ₹ 30,000.
So the best matched answer should be (A) ₹ 30,000.
Final Answer: ₹ 30,000