W, X, Y are partners. They admitted Z into the firm and gave him guarantee that his share in profits will not be less than Rs. 10,000 p.a.. Profits will be shared in 4 : 3 : 3 : 2. If profit for the year is Rs. 48,000 then what is profit share of each partner?

A) W = 15,200, X = 11,400, Y = 11,400, Z = 10,000 B) W = 16,000, X = 11,000, Y = 11,000, Z = 10,000 C) W = 16,000, X = 12,000, Y = 12,000, Z = 8,000 D) W = 15,200, X = 11,200, Y = 12,000, Z = 10,400

Answer & Solution

Correct Answer: Option A

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W X Y are partners They admitted Z into the firm...

W, X, Y are partners. They admitted Z into the firm and gave him guarantee that his share in profits will not be less than Rs. 10,000 p.a.. Profits will be shared in 4 : 3 : 3 : 2. If profit for the year is Rs. 48,000 then what is profit share of each partner?

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