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For the accounting year ending 31st December 2021, Bank Bder earns a profit of $25,000,000 on the balances in equity investment accounts. The profit- sharing
For the accounting year ending 31st December 2021, Bank Bder earns a profit of $25,000,000 on the balances in equity investment accounts. The profit- sharing ratio between Mudharabah deposit account holders is 80%. The following details the deposit types, average balance, and the weights used for Mudharabah deposit accounts of the bank in 2021. Investment Total Weightages categories Amount Defined deposits 24119000.00 60% Investment 50000000.00 90% Certificates Iqra 30000000.00 83% Tejoori 80000000.00 43% Required: Ignore transfers to profit equalization reserves and investment risk reserve. a) What is the weighted average of the 'Defined Deposit? Write your answer as the following a) $ followed by the answer with two decimals. Do not use commas in your answer. b) Calculate the profit of the 'Investment Certificates'. Write your answer as the following b) $ followed by the answer with two decimals. The answer should come after a space following your answer to part a. Do not use commas in your answer. c) What is the rate of return Tejoori account holders? The answer should come after a space following your answer to part b. Note: your answer to c should be written with four decimal points. For example, if the rate of return is 14.2167 %, it should be entered as 0.1422
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