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Munna and Chinna are partners in a firm out of which Munna is sleeping partner and Chinna is working partner. Munna invests Rs. 1,40,000 and Chinna invests Rs. 80,000. Chinna receives 14.5% of profit for managing the business and the rest is shared between both in ratio of their investments. Munna's share in the profit of Rs. 19600 is ?

Rs. 9580.25
Rs. 10600
Rs. 10664.15
Rs. 11060.48

Correct Answer: Rs. 10664.15

Explanation:

Profit received by Chinna as working partner = 14.5% of Rs. 19600

= 14.5x19600/100 = Rs. 2842

Balance in profit = 19600-2842 = Rs. 16758

Ratio of investment of Chinna & Munna = 80,000 : 1,40,000 = 4 : 7

Hence share of Chinna in investment = 4x16758/100 = Rs. 6093.85

Therefore, Share of Munna = 19600 - 2842 - 6093.85 = Rs. 10664.15

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