Sonia and Shruti were partners in a firm sharing profits and losses in the ratio of 5 : 3. On 1st April, 2023 the balance in their fixed capital accounts were  ₹25,00,000 and  ₹15,00,000 respectively.  

The profit of the firm for the year ended 31st March, 2024 was   ₹24,00,000. Calculate their share of profit if: 

  1. the partnership deed is silent as to the payment of interest on capital.  
  2. the partnership deed provides for interest on capital @ 10% per annum.

Marks-3, CBSE: 2024-25/Zone-4/Set-1/Q-20(b)

Answer :

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