X and Y are partners sharing profits in the ratio of 2:1. They admit Z into the partnership for 1/4 the share in profits for which he brings in ₹40,000 as his share of capital. Hence, the adjusted capital of the X and Y will be1) ₹80,000 and ₹40,000 respectively2) ₹32,000 and ₹16,000 respectively3) ₹60,000 and ₹30,000 respectively4) None of the above

X and Y are partners sharing profits in the ratio of 2:1. They admit Z into the partnership for 1/4 the share in profits for which he brings in ₹40,000 as his share of capital. Hence, the adjusted capital of the X and Y will be1) ₹80,000 and ₹40,000 respectively2) ₹32,000 and ₹16,000 respectively3) ₹60,000 and ₹30,000 respectively4) None of the above