UPSC Exam  >  UPSC Questions  >  X and Y are partners sharing profit and losse... Start Learning for Free
X and Y are partners sharing profit and losses in the ratio 3 : 2 .the firm fluctuating capital account and balance as on 31 march 2022 is 400000 and 465000 . Drawing during the year ₹65000 each as per deed interest on capital 10% p.a. Calculate the opening capital of x .given at divisible profit during the year 2021-22 ₹225000?
Most Upvoted Answer
X and Y are partners sharing profit and losses in the ratio 3 : 2 .the...



Calculation of X's Opening Capital:


  1. Given:
    • X and Y share profits and losses in the ratio 3:2.
    • Fluctuating capital account balance as on 31st March 2022: X = ₹400,000, Y = ₹465,000.
    • Drawings during the year: X = ₹65,000.
    • Interest on capital: 10% p.a.
    • Divisible profit during the year 2021-22: ₹225,000.




  2. Calculation:
    • Let X's opening capital be 'x'.
    • Y's opening capital = Y's closing capital - Y's drawings = ₹465,000 - ₹65,000 = ₹400,000.
    • Profit for the year = Divisible profit + Interest on capital = ₹225,000 + (10% of x) = ₹225,000 + 0.10x.
    • X's share of profit = 3/5 * (₹225,000 + 0.10x).
    • Y's share of profit = 2/5 * (₹225,000 + 0.10x).
    • X's closing capital = X's opening capital + X's share of profit - X's drawings = x + 3/5 * (₹225,000 + 0.10x) - ₹65,000.
    • As per the given information, X's closing capital = ₹400,000.
    • Equating X's closing capital from calculations and given information, solve for 'x' to find X's opening capital.





Explore Courses for UPSC exam

Top Courses for UPSC

X and Y are partners sharing profit and losses in the ratio 3 : 2 .the firm fluctuating capital account and balance as on 31 march 2022 is 400000 and 465000 . Drawing during the year ₹65000 each as per deed interest on capital 10% p.a. Calculate the opening capital of x .given at divisible profit during the year 2021-22 ₹225000?
Question Description
X and Y are partners sharing profit and losses in the ratio 3 : 2 .the firm fluctuating capital account and balance as on 31 march 2022 is 400000 and 465000 . Drawing during the year ₹65000 each as per deed interest on capital 10% p.a. Calculate the opening capital of x .given at divisible profit during the year 2021-22 ₹225000? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about X and Y are partners sharing profit and losses in the ratio 3 : 2 .the firm fluctuating capital account and balance as on 31 march 2022 is 400000 and 465000 . Drawing during the year ₹65000 each as per deed interest on capital 10% p.a. Calculate the opening capital of x .given at divisible profit during the year 2021-22 ₹225000? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X and Y are partners sharing profit and losses in the ratio 3 : 2 .the firm fluctuating capital account and balance as on 31 march 2022 is 400000 and 465000 . Drawing during the year ₹65000 each as per deed interest on capital 10% p.a. Calculate the opening capital of x .given at divisible profit during the year 2021-22 ₹225000?.
Solutions for X and Y are partners sharing profit and losses in the ratio 3 : 2 .the firm fluctuating capital account and balance as on 31 march 2022 is 400000 and 465000 . Drawing during the year ₹65000 each as per deed interest on capital 10% p.a. Calculate the opening capital of x .given at divisible profit during the year 2021-22 ₹225000? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of X and Y are partners sharing profit and losses in the ratio 3 : 2 .the firm fluctuating capital account and balance as on 31 march 2022 is 400000 and 465000 . Drawing during the year ₹65000 each as per deed interest on capital 10% p.a. Calculate the opening capital of x .given at divisible profit during the year 2021-22 ₹225000? defined & explained in the simplest way possible. Besides giving the explanation of X and Y are partners sharing profit and losses in the ratio 3 : 2 .the firm fluctuating capital account and balance as on 31 march 2022 is 400000 and 465000 . Drawing during the year ₹65000 each as per deed interest on capital 10% p.a. Calculate the opening capital of x .given at divisible profit during the year 2021-22 ₹225000?, a detailed solution for X and Y are partners sharing profit and losses in the ratio 3 : 2 .the firm fluctuating capital account and balance as on 31 march 2022 is 400000 and 465000 . Drawing during the year ₹65000 each as per deed interest on capital 10% p.a. Calculate the opening capital of x .given at divisible profit during the year 2021-22 ₹225000? has been provided alongside types of X and Y are partners sharing profit and losses in the ratio 3 : 2 .the firm fluctuating capital account and balance as on 31 march 2022 is 400000 and 465000 . Drawing during the year ₹65000 each as per deed interest on capital 10% p.a. Calculate the opening capital of x .given at divisible profit during the year 2021-22 ₹225000? theory, EduRev gives you an ample number of questions to practice X and Y are partners sharing profit and losses in the ratio 3 : 2 .the firm fluctuating capital account and balance as on 31 march 2022 is 400000 and 465000 . Drawing during the year ₹65000 each as per deed interest on capital 10% p.a. Calculate the opening capital of x .given at divisible profit during the year 2021-22 ₹225000? tests, examples and also practice UPSC tests.
Explore Courses for UPSC exam

Top Courses for UPSC

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev