X and Y are partners sharing profits in the ratio $3:2$. Z is entered into the business for $\frac{1}{4}\text{th}$ share of profits, with the guarantee of minimum profits of ₹ 30,000. Profit earned by the business for the year ended March 31st, 2024 is ₹ 1,00,000. The amount of deficiency, if any, will be borne by:

Let's calculate the profit distribution and determine the deficiency step-by-step:1. Calculate Z's actual share of profit:
$$\text{Total Profit}=\text{₹ }1,00,000$$
$$\text{Z’s share}=1,00,000\times \frac{1}{4}=\text{₹ }25,000$$
2. Determine the deficiency:
$$\text{Guaranteed Minimum Profit}=\text{₹ }30,000$$
$$\text{Deficiency}=\text{Guaranteed Profit}-\text{Actual Profit}$$
$$\text{Deficiency}=30,000-25,000=\text{₹ }5,000$$
3. Allocation of Deficiency:Since no specific details are provided about who gave the guarantee individually, the responsibility falls collectively on the existing partners (X and Y) in their mutual profit-sharing ratio, which is $3:2$. Thus, the ₹ 5,000 deficiency will be borne by X and Y in the ratio of $3:2$.