CA CPT Model Test Paper 8 with solutions for online practice

A and B enter into a joint venture sharing profits and losses in the ratio 2:3. Goods purchased by A for Rs. 45,000. Expense incurred by A Rs. 13,500 and by B Rs. 5,200. B sold the goods for Rs. 85,000. Remaining Inventory taken over by B as Rs. 7,200. The profit of the venture will be