question_answer

A and B entered into the partnership business on 1st November 2020 with a capital of Rs.5,00,000 each. According to the partnership deed Interest on capital is to be allowed amounting to Rs.12,000 p.a. to each partner irrespective of their capitals during the year and salary to B is Rs.12,000 P.a. Profit for the year ended 31.03.2021 is Rs.40,000. A's share of profit will be:                                                                                                 [CBSE 2019 C Modified]

A) 25,000 

B) 11,000

C) 4,000

D) 12,500