CA CPT 2013 Dec Question Paper Fundamentals of Accounting for online practice

Karthik and Dhoni entered into Joint venture, sharing profits & Losses in the Ratio of 2:1. Karthikpurchased goods Rs.2,00,000 and entitled to 1% commission on purchases. Dhoni sold goods forRs.2,50,000 and entitled to get a commission 5% on sales. The profit on venture will be _____