The profit allocated to Ahmad based on a profit-sharing ratio of 3:4 should be Rs 210,000.
A profit-sharing ratio is the proportion of the profits that are allocated to each partner in a partnership business.
Profit-sharing ratios are usually based on some agreed criteria, like the share of capital contributions and participation in the business.
Profit sharing ratio = 3:4
Profit to be shared = Rs 490,000
Ahmad's profit = Rs 210,000 (Rs 490,000 x 3/7)
Haider's profit = Rs 280,000 (Rs 490,000 x 4/7)
Thus, the profit allocated to Ahmad based on a profit-sharing ratio of 3:4 should be Rs 210,000.
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The profit of Ahmad base on the ratio is Rs 210,000
The total profit made by the two of them are Rs 490,000.
The profit is divided between Ahmad and Haider with the ratio 3:4.
The profit of Ahmad can be calculated as follows:
Therefore,
profit of Ahmad = 3 / 7 × 490,000
profit of Ahmad = 1470000 / 7
profit of Ahmad = 210000
profit of Ahmad = Rs 210,000
Therefore, the profit made by Ahmad is Rs 210,000
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