Pranav, Karan and Rahim were partners sharing profits in the ratio of 3 : 2 : 1. Their capitals were ₹ 5,00,00, ₹ 3,00,000, and ₹ 2,00,000 respectively
Solution:- Working Notes:- Calculation of Interest on Capitals of the Partners: Pranav’s Interest on Capital:- 5,00,000 ✕ 10% = ₹ 50,000 Karan’s Interest on Capital:- 3,00,000 ✕ 10% = ₹ 30,000 Rahim’s Interest on Capital:- 2,00,000 ✕ 10% =…