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  3. in the year 2020, ummah bank earned annual profit

In the year 2020, Ummah Bank earned annual profit attributable to Unrestricted Mudharaba account before...

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Accounting

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In the year 2020, Ummah Bank earned annual profit attributable to Unrestricted Mudharaba account before distribution of profit to the bank amounting to $10,000,000 Depositors' profit sharing ratio is 80% and Bank is 20%. The following is information pertaining to deposit types, average balance and the weight used for Mudharaba deposit account for the bank in the year 2020. Investments tenure Weights Average balance $ 12,000,000 6 months and less 0.65 9 months and less 20,000,000 0.80 12 months and less 30,000,000 0.95 More than 12 months 15,000,000 1.15 How much is the depositors' share for the 9 months less investments tenure? 1,054,403 1:460 403 1.540.000 1840.403

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