CA Foundation Exam  >  CA Foundation Questions  >  X, Y and Z are partners in a firm. At the tim... Start Learning for Free
X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s loan was Rs. 6,000 and Y determined interest @ 24% p.a. on his loan of Rs. 80,000. There was no agreement on this point. Calculate the amount payable to X, Y and Z respectively.
  • a)
    Rs. 2,000 to each partner
  • b)
    Loss of Rs. 4,400 for X and Z & Y will take home Rs. 14,800
  • c)
    Rs. 400 for X, Rs. 5,200 for Y and Rs. 400 for Z
  • d)
    Rs. 2,400 to each partner
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
X, Y and Z are partners in a firm. At the time of division of profit f...
As said by Ashish,interest rate on loan by partner(s) in absence of any agreement os 6 % PA. 
So profit left after deducting the amount of interest of 1200,which is divisible among all 3 equally 
X = 400 
Y = 4800 + 400 = 5200 
Z = 400

View all questions of this test
Explore Courses for CA Foundation exam

Similar CA Foundation Doubts

X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s loan was Rs. 6,000 and Y determined interest @ 24% p.a. on his loan of Rs. 80,000. There was no agreement on this point. Calculate the amount payable to X, Y and Z respectively.a)Rs. 2,000 to each partnerb)Loss of Rs. 4,400 for X and Z & Y will take home Rs. 14,800c)Rs. 400 for X, Rs. 5,200 for Y and Rs. 400 for Zd)Rs. 2,400 to each partnerCorrect answer is option 'C'. Can you explain this answer?
Question Description
X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s loan was Rs. 6,000 and Y determined interest @ 24% p.a. on his loan of Rs. 80,000. There was no agreement on this point. Calculate the amount payable to X, Y and Z respectively.a)Rs. 2,000 to each partnerb)Loss of Rs. 4,400 for X and Z & Y will take home Rs. 14,800c)Rs. 400 for X, Rs. 5,200 for Y and Rs. 400 for Zd)Rs. 2,400 to each partnerCorrect answer is option 'C'. Can you 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 X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s loan was Rs. 6,000 and Y determined interest @ 24% p.a. on his loan of Rs. 80,000. There was no agreement on this point. Calculate the amount payable to X, Y and Z respectively.a)Rs. 2,000 to each partnerb)Loss of Rs. 4,400 for X and Z & Y will take home Rs. 14,800c)Rs. 400 for X, Rs. 5,200 for Y and Rs. 400 for Zd)Rs. 2,400 to each partnerCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s loan was Rs. 6,000 and Y determined interest @ 24% p.a. on his loan of Rs. 80,000. There was no agreement on this point. Calculate the amount payable to X, Y and Z respectively.a)Rs. 2,000 to each partnerb)Loss of Rs. 4,400 for X and Z & Y will take home Rs. 14,800c)Rs. 400 for X, Rs. 5,200 for Y and Rs. 400 for Zd)Rs. 2,400 to each partnerCorrect answer is option 'C'. Can you explain this answer?.
Solutions for X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s loan was Rs. 6,000 and Y determined interest @ 24% p.a. on his loan of Rs. 80,000. There was no agreement on this point. Calculate the amount payable to X, Y and Z respectively.a)Rs. 2,000 to each partnerb)Loss of Rs. 4,400 for X and Z & Y will take home Rs. 14,800c)Rs. 400 for X, Rs. 5,200 for Y and Rs. 400 for Zd)Rs. 2,400 to each partnerCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s loan was Rs. 6,000 and Y determined interest @ 24% p.a. on his loan of Rs. 80,000. There was no agreement on this point. Calculate the amount payable to X, Y and Z respectively.a)Rs. 2,000 to each partnerb)Loss of Rs. 4,400 for X and Z & Y will take home Rs. 14,800c)Rs. 400 for X, Rs. 5,200 for Y and Rs. 400 for Zd)Rs. 2,400 to each partnerCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s loan was Rs. 6,000 and Y determined interest @ 24% p.a. on his loan of Rs. 80,000. There was no agreement on this point. Calculate the amount payable to X, Y and Z respectively.a)Rs. 2,000 to each partnerb)Loss of Rs. 4,400 for X and Z & Y will take home Rs. 14,800c)Rs. 400 for X, Rs. 5,200 for Y and Rs. 400 for Zd)Rs. 2,400 to each partnerCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s loan was Rs. 6,000 and Y determined interest @ 24% p.a. on his loan of Rs. 80,000. There was no agreement on this point. Calculate the amount payable to X, Y and Z respectively.a)Rs. 2,000 to each partnerb)Loss of Rs. 4,400 for X and Z & Y will take home Rs. 14,800c)Rs. 400 for X, Rs. 5,200 for Y and Rs. 400 for Zd)Rs. 2,400 to each partnerCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s loan was Rs. 6,000 and Y determined interest @ 24% p.a. on his loan of Rs. 80,000. There was no agreement on this point. Calculate the amount payable to X, Y and Z respectively.a)Rs. 2,000 to each partnerb)Loss of Rs. 4,400 for X and Z & Y will take home Rs. 14,800c)Rs. 400 for X, Rs. 5,200 for Y and Rs. 400 for Zd)Rs. 2,400 to each partnerCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice X, Y and Z are partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before interest on partner’s loan was Rs. 6,000 and Y determined interest @ 24% p.a. on his loan of Rs. 80,000. There was no agreement on this point. Calculate the amount payable to X, Y and Z respectively.a)Rs. 2,000 to each partnerb)Loss of Rs. 4,400 for X and Z & Y will take home Rs. 14,800c)Rs. 400 for X, Rs. 5,200 for Y and Rs. 400 for Zd)Rs. 2,400 to each partnerCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
Explore Courses for CA Foundation exam

Top Courses for CA Foundation

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