Guaranteed Profit Questions

Vijay and Manohar share profits and losses in the ratio of $2:1$. They admit Prakash as a partner with a $\frac{1}{4}$ share in profits, guaranteeing that his annual share of profit will be at least $\text{Rs. }50,000$. The net profit of the firm for the financial year ending March 31, 2015, was $\text{Rs. }1,60,000$. Calculate the final amount of profit Vijay will receive.