Three partner X,Y and Z engaged in a partnership business and their initial contributions to start the business was in the ratio X:Y =1:2 and Y:Z=2:3. At the end of the financial year there was a total profit of #360,000 which was shared according to their initial contribution
(i) determine how much each of them will receive?
(ii) suppose Y is chosen as the managing (MD) of the business and as MD, he will earn 25% of the total profit apart from his normal share. If the total profit is still the same as given (i) above, find how much each of them collects.?
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Asked by Olowojoyin on 6th January, 2023
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