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Ram Mohan and Sohan are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2 . The firm took separate life policy of rupees 50000 rupees 100000 and rupees 150000 for Ram Mohan and Sohan respectively . The share of Mohan in the policy will be a 45000 b 90000 c 80000 d 70000 Correct answer is option 'B' .Can you please explain this answer?
Most Upvoted Answer
Ram Mohan and Sohan are partners in a firm sharing profits and losses ...
Ram Mohan and Sohan's Partnership
The given information states that Ram Mohan and Sohan are partners in a firm, and they share profits and losses in the ratio of 5:3:2. This ratio implies that Ram Mohan's share is 5/10, Sohan's share is 3/10, and the remaining 2/10 is the share of another partner or partners not mentioned in the given information.
Life Insurance Policies
The firm has taken separate life insurance policies for Ram Mohan and Sohan, with amounts of Rs. 50,000 and Rs. 100,000, respectively.
Calculating Mohan's Share in the Policy
To determine Mohan's share in the policy, we need to find out what portion of the policy amount is attributed to him based on the profit-sharing ratio.
1. Calculate the total share of Ram Mohan and Sohan:
- Ram Mohan's share: 5/10 x Total = 1/2 x Total
- Sohan's share: 3/10 x Total = 3/10 x Total
2. Calculate the total amount of the policy:
- Total policy amount = Rs. 50,000 (Ram Mohan's policy) + Rs. 100,000 (Sohan's policy) + Rs. 150,000 (other partner(s)'s policy, not mentioned)
- Total policy amount = Rs. 300,000
3. Calculate Mohan's share in the policy:
- Ram Mohan's share = 1/2 x Total policy amount = 1/2 x Rs. 300,000 = Rs. 150,000
Final Answer
The share of Mohan in the policy is Rs. 150,000, which corresponds to option 'B' (Rs. 90,000 in the given answer options). However, this seems to be an error in the answer options, as the calculated value is Rs. 150,000.
The given information states that Ram Mohan and Sohan are partners in a firm, and they share profits and losses in the ratio of 5:3:2. This ratio implies that Ram Mohan's share is 5/10, Sohan's share is 3/10, and the remaining 2/10 is the share of another partner or partners not mentioned in the given information.
Life Insurance Policies
The firm has taken separate life insurance policies for Ram Mohan and Sohan, with amounts of Rs. 50,000 and Rs. 100,000, respectively.
Calculating Mohan's Share in the Policy
To determine Mohan's share in the policy, we need to find out what portion of the policy amount is attributed to him based on the profit-sharing ratio.
1. Calculate the total share of Ram Mohan and Sohan:
- Ram Mohan's share: 5/10 x Total = 1/2 x Total
- Sohan's share: 3/10 x Total = 3/10 x Total
2. Calculate the total amount of the policy:
- Total policy amount = Rs. 50,000 (Ram Mohan's policy) + Rs. 100,000 (Sohan's policy) + Rs. 150,000 (other partner(s)'s policy, not mentioned)
- Total policy amount = Rs. 300,000
3. Calculate Mohan's share in the policy:
- Ram Mohan's share = 1/2 x Total policy amount = 1/2 x Rs. 300,000 = Rs. 150,000
Final Answer
The share of Mohan in the policy is Rs. 150,000, which corresponds to option 'B' (Rs. 90,000 in the given answer options). However, this seems to be an error in the answer options, as the calculated value is Rs. 150,000.
Community Answer
Ram Mohan and Sohan are partners in a firm sharing profits and losses ...
Total = 300000/10 × 3
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Ram Mohan and Sohan are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2 . The firm took separate life policy of rupees 50000 rupees 100000 and rupees 150000 for Ram Mohan and Sohan respectively . The share of Mohan in the policy will be a 45000 b 90000 c 80000 d 70000 Correct answer is option 'B' .Can you please explain this answer?
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Ram Mohan and Sohan are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2 . The firm took separate life policy of rupees 50000 rupees 100000 and rupees 150000 for Ram Mohan and Sohan respectively . The share of Mohan in the policy will be a 45000 b 90000 c 80000 d 70000 Correct answer is option 'B' .Can you please explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Ram Mohan and Sohan are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2 . The firm took separate life policy of rupees 50000 rupees 100000 and rupees 150000 for Ram Mohan and Sohan respectively . The share of Mohan in the policy will be a 45000 b 90000 c 80000 d 70000 Correct answer is option 'B' .Can you please explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ram Mohan and Sohan are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2 . The firm took separate life policy of rupees 50000 rupees 100000 and rupees 150000 for Ram Mohan and Sohan respectively . The share of Mohan in the policy will be a 45000 b 90000 c 80000 d 70000 Correct answer is option 'B' .Can you please explain this answer?.
Ram Mohan and Sohan are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2 . The firm took separate life policy of rupees 50000 rupees 100000 and rupees 150000 for Ram Mohan and Sohan respectively . The share of Mohan in the policy will be a 45000 b 90000 c 80000 d 70000 Correct answer is option 'B' .Can you please explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Ram Mohan and Sohan are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2 . The firm took separate life policy of rupees 50000 rupees 100000 and rupees 150000 for Ram Mohan and Sohan respectively . The share of Mohan in the policy will be a 45000 b 90000 c 80000 d 70000 Correct answer is option 'B' .Can you please explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ram Mohan and Sohan are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2 . The firm took separate life policy of rupees 50000 rupees 100000 and rupees 150000 for Ram Mohan and Sohan respectively . The share of Mohan in the policy will be a 45000 b 90000 c 80000 d 70000 Correct answer is option 'B' .Can you please explain this answer?.
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