UPSC Exam  >  UPSC Questions  >  Akil and nikhil were partners in the manageme... Start Learning for Free
Akil and nikhil were partners in the management consultancy firm sharing the profit and losses in the ratio 3:2 . their fixed capital were ₹1,00,000 and ₹80,000 respectively. interest on capital was @6%.pa. nikil was to be allowed a bi-annual salary of ₹4600. during the year 2022-23 ,?
Most Upvoted Answer
Akil and nikhil were partners in the management consultancy firm shari...
Calculation of Akil and Nikhil's share of profit:
- Akil's fixed capital: ₹1,00,000
- Nikhil's fixed capital: ₹80,000
- Total fixed capital: ₹1,00,000 + ₹80,000 = ₹1,80,000

Interest on capital:
- Rate of interest: 6% p.a.
- Akil's interest on capital: 6% of ₹1,00,000 = ₹6,000
- Nikhil's interest on capital: 6% of ₹80,000 = ₹4,800

Salary for Nikhil:
- Bi-annual salary: ₹4600
- Annual salary: ₹4600 x 2 = ₹9200

Profit sharing ratio:
- Akil:Nikhil = 3:2

Calculation of profit:
- Let the total profit be x
- Akil's share: 3/5 * x
- Nikhil's share: 2/5 * x

Calculation of Akil and Nikhil's total earnings:
- Akil: Profit share + Interest on capital
- Nikhil: Profit share + Interest on capital + Salary
This information is essential to calculate Akil and Nikhil's total earnings for the year 2022-23. By following these steps, you can determine their individual earnings accurately and ensure fair distribution of profits and expenses within the partnership.
Explore Courses for UPSC exam

Similar UPSC Doubts

Top Courses for UPSC

Akil and nikhil were partners in the management consultancy firm sharing the profit and losses in the ratio 3:2 . their fixed capital were ₹1,00,000 and ₹80,000 respectively. interest on capital was @6%.pa. nikil was to be allowed a bi-annual salary of ₹4600. during the year 2022-23 ,?
Question Description
Akil and nikhil were partners in the management consultancy firm sharing the profit and losses in the ratio 3:2 . their fixed capital were ₹1,00,000 and ₹80,000 respectively. interest on capital was @6%.pa. nikil was to be allowed a bi-annual salary of ₹4600. during the year 2022-23 ,? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Akil and nikhil were partners in the management consultancy firm sharing the profit and losses in the ratio 3:2 . their fixed capital were ₹1,00,000 and ₹80,000 respectively. interest on capital was @6%.pa. nikil was to be allowed a bi-annual salary of ₹4600. during the year 2022-23 ,? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Akil and nikhil were partners in the management consultancy firm sharing the profit and losses in the ratio 3:2 . their fixed capital were ₹1,00,000 and ₹80,000 respectively. interest on capital was @6%.pa. nikil was to be allowed a bi-annual salary of ₹4600. during the year 2022-23 ,?.
Solutions for Akil and nikhil were partners in the management consultancy firm sharing the profit and losses in the ratio 3:2 . their fixed capital were ₹1,00,000 and ₹80,000 respectively. interest on capital was @6%.pa. nikil was to be allowed a bi-annual salary of ₹4600. during the year 2022-23 ,? 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 Akil and nikhil were partners in the management consultancy firm sharing the profit and losses in the ratio 3:2 . their fixed capital were ₹1,00,000 and ₹80,000 respectively. interest on capital was @6%.pa. nikil was to be allowed a bi-annual salary of ₹4600. during the year 2022-23 ,? defined & explained in the simplest way possible. Besides giving the explanation of Akil and nikhil were partners in the management consultancy firm sharing the profit and losses in the ratio 3:2 . their fixed capital were ₹1,00,000 and ₹80,000 respectively. interest on capital was @6%.pa. nikil was to be allowed a bi-annual salary of ₹4600. during the year 2022-23 ,?, a detailed solution for Akil and nikhil were partners in the management consultancy firm sharing the profit and losses in the ratio 3:2 . their fixed capital were ₹1,00,000 and ₹80,000 respectively. interest on capital was @6%.pa. nikil was to be allowed a bi-annual salary of ₹4600. during the year 2022-23 ,? has been provided alongside types of Akil and nikhil were partners in the management consultancy firm sharing the profit and losses in the ratio 3:2 . their fixed capital were ₹1,00,000 and ₹80,000 respectively. interest on capital was @6%.pa. nikil was to be allowed a bi-annual salary of ₹4600. during the year 2022-23 ,? theory, EduRev gives you an ample number of questions to practice Akil and nikhil were partners in the management consultancy firm sharing the profit and losses in the ratio 3:2 . their fixed capital were ₹1,00,000 and ₹80,000 respectively. interest on capital was @6%.pa. nikil was to be allowed a bi-annual salary of ₹4600. during the year 2022-23 ,? 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