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A, B and C are partners sharing profits in the ratio of 5 : 2 : 3. They admitted D in the firm for 1/5 share on Oct. 1st 2022, with a guarantee of pro
Question

A, B and C are partners sharing profits in the ratio of 5 : 2 : 3. They admitted D in the firm for 1/5 share on Oct. 1st 2022, with a guarantee of profit ₹35,000 annually. The firm earned a profit of ₹1,60,000 for the year ending March 31st 2023. Calculate deficiency borne by B.

A.

₹3,000

B.

₹300

C.

₹1,500

D.

₹600

Correct option is B

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