| Show the distribution of Profit or loss between X and Y in their ratio 3:5: |
| Net profit ............................................................................................. 80,000 |
| Interest on capital .................................................................................60,000 |
| Salary....................................................................................................20,000 |
| Interest on drawings ...................................................................................800 |
| Profit/loss distributed among the partners: |
A) Profit to X Rs.500 and Y Rs.300
B) Profit to X Rs.400 and Y Rs.400
C) Profit to X Rs.300 and Y Rs.500
D) Profit to X Rs.240 and Y Rs.560
Correct Answer: C
Solution :
Profit to X Rs.300 and Y Rs.500
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