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Gaurav and Saurabh are partners in a firm having capital balance of Rs 90000 and Rs 60000 respectively. They admitted Mohit as a new partner for 2/7th share in the firm. What will be Mohits share of capital if he has to contribute capital in proportion to his profit sharing ratio?
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Gaurav and Saurabh are partners in a firm having capital balance of Rs...
Given:
- Gaurav's capital balance: Rs 90000
- Saurabh's capital balance: Rs 60000
- Mohit's share in the firm: 2/7

To Find:
- Mohit's share of capital if he has to contribute capital in proportion to his profit sharing ratio

Explanation:
Step 1: Calculate Total Capital:
- Total capital in the firm is the sum of the capital balances of all partners.
- Total capital = Gaurav's capital + Saurabh's capital
- Total capital = Rs 90000 + Rs 60000
- Total capital = Rs 150000

Step 2: Calculate Mohit's Share of Capital:
- Mohit's share in the firm is given as 2/7.
- Mohit's share of capital = Mohit's share in the firm * Total capital
- Mohit's share of capital = (2/7) * Rs 150000

Step 3: Simplify the Expression:
- (2/7) * Rs 150000 can be simplified as follows:
- Divide the numerator by the denominator: 2 ÷ 7 = 0.2857
- Multiply the result by the Total capital: 0.2857 * Rs 150000 = Rs 42857.14

Step 4: Final Answer:
- Mohit's share of capital, if he has to contribute capital in proportion to his profit sharing ratio, is Rs 42857.14.
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Gaurav and Saurabh are partners in a firm having capital balance of Rs 90000 and Rs 60000 respectively. They admitted Mohit as a new partner for 2/7th share in the firm. What will be Mohits share of capital if he has to contribute capital in proportion to his profit sharing ratio?
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Gaurav and Saurabh are partners in a firm having capital balance of Rs 90000 and Rs 60000 respectively. They admitted Mohit as a new partner for 2/7th share in the firm. What will be Mohits share of capital if he has to contribute capital in proportion to his profit sharing ratio? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Gaurav and Saurabh are partners in a firm having capital balance of Rs 90000 and Rs 60000 respectively. They admitted Mohit as a new partner for 2/7th share in the firm. What will be Mohits share of capital if he has to contribute capital in proportion to his profit sharing ratio? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Gaurav and Saurabh are partners in a firm having capital balance of Rs 90000 and Rs 60000 respectively. They admitted Mohit as a new partner for 2/7th share in the firm. What will be Mohits share of capital if he has to contribute capital in proportion to his profit sharing ratio?.
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