X, Y and Z are partners sharing profits in te ratio of 7 : 5 :4. On 30th June, 2015 Z died and profits for the year ending 31st March, 2016 were ₹ 2,40,000. How much share in profits for the period 1st April to 30th June, 2015 will be credited to Z’s account assuming the profit occurred evenly throughout the year ;
A. ₹ 60,000
B. ₹ 15,000
C. ₹ 20,000
D. Nil
Answer:B
X, Y and Z are partners sharing profits in te ratio of 7 : 5 :4. On 30th June, 2015 Z died and profits for the year ending 31st March, 2016 were ₹ 2,40,000. How much share in profits for the period 1st April to 30th June, 2015 will be credited to Z’s account assuming the profit occurred evenly throughout the year ;
A. ₹ 60,000 B. ₹ 15,000 C. ₹ 20,000 D. Nil