X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2 with capitals of ₹ 10,00,000 and ₹ 5,00,00 respectively. As per the partnership deed, they are to be allowed interest on capital @ 8% p.a

X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2 with capitals of ₹ 10,00,000 and ₹ 5,00,00 respectively. As per the partnership deed, they are to be allowed interest on capital @ 8% p.a. The net profit for the year ended 31st March, 2023 before providing for interest on capital amounted to ₹ 45,000. Show the distribution of profit.

[Ans. Interest on capital allowed to X ₹ 30,000 and Y ₹ 15,000.]