J5J 16. A, B, C and D are partners having capitals of 2,00,000; † 1,00,000; * 60,000 and 40,000 respectively. They share profits and losses in the ratio of 3: 2:1:1. They have agreed upon the following terms: (1) Partners are entitled to interest on capital @ 7%. (ii) A will get salary @*1,000 per month. (ii) B's share of profits (including interest on capital) has been guaranteed to be not less than 2,00,000. (iv) D's share of profits (excluding interest on capital) has been guaranteed by A to be not less than 95,000.

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