CA CPT Model Test Paper 2 with solutions for online practice

Arjun and Bheem are partners in the firm sharing profits and losses in the ratio 1 : 1. Theyhave invested capital of Rs. 80,000 and Rs. 50,000 respectively. As per partnership deed,they are entitled to interest on capital @ 2.5% p.a. before sharing the profits. During theyear firm earned a profit of Rs. 5000 before allowing interest. The net profit will beapportioned as