CA CPT Model Test Paper 6 with solutions for online practice

Mohan, Sohan and Rohan share profits and loss in the ratio of 4:4:2. They have a Joint Life Insurance Policy of Rs. 1,00,000 whose premium is paid by the firm. Surrender value of the policy at the beginning of the year 2010 is 80,000. On the death of Mohan on 2nd Jan 2010 the amount to be credited in Rohan’s account will be