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At the beginning of a partnership business,the capital of B was3/2 times that of A.After 8 monthsB withdrew1/2 of his capital and after10 months A withdrew1/4 of his capital.At the end of the year if the profit incurred is rs 53000 find the amount received byA.?
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At the beginning of a partnership business,the capital of B was3/2 tim...
Given:
- The capital of B at the beginning of the partnership is 3/2 times that of A.
- After 8 months, B withdraws 1/2 of his capital.
- After 10 months, A withdraws 1/4 of his capital.
- The total profit at the end of the year is Rs 53000.

To find:
- The amount received by A at the end of the year.

Assumptions:
- The profit is shared in proportion to the capital invested.

Solution:

1. Let's assume that the initial capital of A is x.
- Therefore, the initial capital of B is (3/2)x.

2. Since B withdraws 1/2 of his capital after 8 months, his capital at the end of 8 months will be (1/2)((3/2)x) = (3/4)x.

3. Similarly, A withdraws 1/4 of his capital after 10 months, so his capital at the end of 10 months will be (3/4)x - (1/4)x = (1/2)x.

4. The profit is shared in proportion to the capital invested. Therefore, the ratio of their capitals at the end of the year will determine the ratio of profit sharing.

5. The ratio of their capitals at the end of the year is ((1/2)x) : ((3/4)x) = 2:3.

6. Let's assume that the total profit at the end of the year is P.
- According to the given information, P = Rs 53000.

7. Using the ratio obtained in step 5, we can calculate the amount received by A.
- Amount received by A = (Profit) * (Ratio of A's capital / Total ratio)
- Amount received by A = P * (2 / (2+3))
- Amount received by A = 53000 * (2/5)
- Amount received by A = Rs 21200.

Therefore, A receives Rs 21200 at the end of the year.
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Directions: Read the following passage and answer the question.Indian Partnership Act, 1932 defines persons as partners who have agreed to share profits of the business carried on by all or any of them acting for all. A minor is a person who hasn't yet attained the age of majority, which is eighteen years, according to the Indian Majority Act, 1875.The general principle has been laid down by Section 11 of the Indian Contract Act, 1872, where it is discussed that who is competent to a contract and thereby stating that a minor doesn't have the ability to contract. Under Section 4 of the Indian Partnership Act, a firm means a group of people who has entered into a contract of partnership among themselves and reading it with Section 11 of the Indian Contract Act, it can be interpreted that a minor cannot be a part of a partnership contract.However, the Supreme Court in the landmark judgement of Commissioner of Income Tax v. D. Khaitan and Co. took a legal stand that in a situation where a minor is made a full-fledged partner in the firm, the partnership cannot be registered by the Income Tax Department only.Section 30(2) of the Indian Partnership Act states that a minor is entitled to share of profits and the property of the firm, which may have decided at the time the minor was admitted to the benefits of the partnership. Under this provision, a minor has the right to inspect the accounts of the partnership but to that fact does not have any right to inspect other documents of the partnership.Even in Section 30(3) of the Indian Partnership Act, a minor can only be liable to the extent of his share in the partnership and can't be liable personally to the partnership for the losses of the firm.According to Section 30(5) of the Indian Partnership Act, a minor has two options after attaining majority, either he can sever the connection with the firm or he can become a full-fledged partner in the firm. After leaving, he can avail any pending share of profits he is entitled to.The minor has to make his decision within six months of his attaining majority. Section 7(

Directions: Read the following passage and answer the question.Indian Partnership Act, 1932 defines persons as partners who have agreed to share profits of the business carried on by all or any of them acting for all. A minor is a person who hasn't yet attained the age of majority, which is eighteen years, according to the Indian Majority Act, 1875.The general principle has been laid down by Section 11 of the Indian Contract Act, 1872, where it is discussed that who is competent to a contract and thereby stating that a minor doesn't have the ability to contract. Under Section 4 of the Indian Partnership Act, a firm means a group of people who has entered into a contract of partnership among themselves and reading it with Section 11 of the Indian Contract Act, it can be interpreted that a minor cannot be a part of a partnership contract.However, the Supreme Court in the landmark judgement of Commissioner of Income Tax v. D. Khaitan and Co. took a legal stand that in a situation where a minor is made a full-fledged partner in the firm, the partnership cannot be registered by the Income Tax Department only.Section 30(2) of the Indian Partnership Act states that a minor is entitled to share of profits and the property of the firm, which may have decided at the time the minor was admitted to the benefits of the partnership. Under this provision, a minor has the right to inspect the accounts of the partnership but to that fact does not have any right to inspect other documents of the partnership.Even in Section 30(3) of the Indian Partnership Act, a minor can only be liable to the extent of his share in the partnership and can't be liable personally to the partnership for the losses of the firm.According to Section 30(5) of the Indian Partnership Act, a minor has two options after attaining majority, either he can sever the connection with the firm or he can become a full-fledged partner in the firm. After leaving, he can avail any pending share of profits he is entitled to.The minor has to make his decision within six months of his attaining majority. Section 7(

Directions: Read the following passage and answer the question.Indian Partnership Act, 1932 defines persons as partners who have agreed to share profits of the business carried on by all or any of them acting for all. A minor is a person who hasn't yet attained the age of majority, which is eighteen years, according to the Indian Majority Act, 1875.The general principle has been laid down by Section 11 of the Indian Contract Act, 1872, where it is discussed that who is competent to a contract and thereby stating that a minor doesn't have the ability to contract. Under Section 4 of the Indian Partnership Act, a firm means a group of people who has entered into a contract of partnership among themselves and reading it with Section 11 of the Indian Contract Act, it can be interpreted that a minor cannot be a part of a partnership contract.However, the Supreme Court in the landmark judgement of Commissioner of Income Tax v. D. Khaitan and Co. took a legal stand that in a situation where a minor is made a full-fledged partner in the firm, the partnership cannot be registered by the Income Tax Department only.Section 30(2) of the Indian Partnership Act states that a minor is entitled to share of profits and the property of the firm, which may have decided at the time the minor was admitted to the benefits of the partnership. Under this provision, a minor has the right to inspect the accounts of the partnership but to that fact does not have any right to inspect other documents of the partnership.Even in Section 30(3) of the Indian Partnership Act, a minor can only be liable to the extent of his share in the partnership and can't be liable personally to the partnership for the losses of the firm.According to Section 30(5) of the Indian Partnership Act, a minor has two options after attaining majority, either he can sever the connection with the firm or he can become a full-fledged partner in the firm. After leaving, he can avail any pending share of profits he is entitled to.The minor has to make his decision within six months of his attaining majority. Section 7(

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At the beginning of a partnership business,the capital of B was3/2 times that of A.After 8 monthsB withdrew1/2 of his capital and after10 months A withdrew1/4 of his capital.At the end of the year if the profit incurred is rs 53000 find the amount received byA.?
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At the beginning of a partnership business,the capital of B was3/2 times that of A.After 8 monthsB withdrew1/2 of his capital and after10 months A withdrew1/4 of his capital.At the end of the year if the profit incurred is rs 53000 find the amount received byA.? for CLAT 2025 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about At the beginning of a partnership business,the capital of B was3/2 times that of A.After 8 monthsB withdrew1/2 of his capital and after10 months A withdrew1/4 of his capital.At the end of the year if the profit incurred is rs 53000 find the amount received byA.? covers all topics & solutions for CLAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for At the beginning of a partnership business,the capital of B was3/2 times that of A.After 8 monthsB withdrew1/2 of his capital and after10 months A withdrew1/4 of his capital.At the end of the year if the profit incurred is rs 53000 find the amount received byA.?.
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