Question : Anil Bobby and Chaman were partners sharing profits and losses in the ratio of 2: 2: 1. Books are closed on 31st March every year. Chaman dies on 15th November, 2020. Under the partnership deed, the executors of the deceased partner are entitled to his share of profit to the date of death, calculated on the basis of last year's profit. Profit for the year ended 31st March 2020 was Rs.1,20,000. Chaman's share of profit will be :
Option 1: Rs 14,000
Option 2: Rs 16,000
Option 3: Rs 28,800
Option 4: Rs 15,000
Correct Answer: Rs 15,000
Solution : Answer = Rs 15,000
Chaman's share of profit = 1,20,000 x 1/5 x 228/365
= 15,000 (approx)
Hence, the correct option is 4.