New 55% Off on All Courses - Enroll Now! Click Here

    Question

    ‘Arvind’, ‘Binny’ and ‘Chinnu’ started a

    Startup business of Construction suppliers with Rs.1,00,000, Rs.2,50,000 and Rs.2,00,000 respectively. What is the total profit at the end of the year? Statement I: If ‘Arvind’ invested Rs.50,000 more after 6 months and ‘Binny’ and ‘Chinnu’ withdrew Rs.50,000 each at the same time, then ‘Binny’ would have got Rs. 99,000 as profit. Statement II: Difference between the profit shares of ‘Arvind’ and ‘Chinnu’ is Rs.42,000. Statement III: Simple interest on Chinnu’s profit share for 2 years at 10% p.a. The rate of interest is Rs.16,800.
    A A Correct Answer Incorrect Answer
    B B Correct Answer Incorrect Answer
    C C Correct Answer Incorrect Answer
    D D Correct Answer Incorrect Answer
    E E Correct Answer Incorrect Answer

    Solution

    ATQ, Ratio of investment of ‘Arvind’, ‘Binny’ and ‘Chinnu’ respectively = 10000:25000:20000 = 2:5:4 Statement I: Ratio of investments of ‘Arvind’, ‘Binny’ and ‘Chinnu’ respectively = ((10000 × 6) + (15000 × 6)):((25000 × 6) + (20000 × 6)):((20000 × 6) + (15000 × 6)) = 5:9:7 Total profit = 9900 × (21/9) = Rs. 3100 So, data in statement I alone is sufficient to answer the question Statement II: Total profit = [4200 × (11/(4 - 2))] = Rs.23100 So, data in statement II alone is sufficient to answer the question. Statement III: Let, total profit = 11x C’s share = 11x × (4/11) = Rs.4x Now, (4x × 2 × 10)/100 = 1680 Or, x = 2100 Or, 11x = 23100 Total profit = Rs. 23100. So, data in statement III alone is sufficient to answer the question. Hence, option e.The data in any of the given statements alone is sufficient to answer the question

    Practice Next

    Relevant for Exams: