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1 Left and Right are partners, sharing profits and losses in the ratio of 2: 1. They are allowed interest at 10% per annum
1 Left and Right are partners, sharing profits and losses in the ratio of 2: 1. They are allowed interest at 10% per annum on capitals and loans to the partnership. Other information is as follows: Capitals Loan to firm Left Right $ $ 20000 8000 3000 The partnership has made a profit for the year of $40 000. How much is Left's total share of the profit for the year? A $24 800 B $25 100 C $26 800 D $27 100
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