New Enroll in our GIC Finance Online Course Here!

    Register

    Question

    Aman, Bhanu, and Chikku jointly initiated a business

    with a total investment of Rs. 80,000, of which Aman invested Rs. 24,000. After 6 months, Aman added an additional Rs. 8,000 to his initial investment. Bhanu's investment was active for 8 months only. If, at the end of the year, the profit share between Aman and Bhanu is in the ratio of 7:6, determine the amount invested by Chikku.
    A Rs.20,000 Correct Answer Incorrect Answer
    B Rs.20,850 Correct Answer Incorrect Answer
    C Rs.15,000 Correct Answer Incorrect Answer
    D Rs.11,120 Correct Answer Incorrect Answer

    Solution

    ATQ, Let, the sum invested by 'Bhanu' be Rs. 'x'. So, the sum invested by 'Chikku' = 80000 - 24000 - x = Rs. 56,000 - x ATQ, Profit share of 'Aman' to 'Bhanu' = [24000 X 6 + (24000 + 8000) × 6]:[x × 8] = 7:6 Or, [(24000 + 32000) × 6]:[x X 8] = 7:6 Or, (56000 × 6) :(x × 8) = 7:6 So, [(56000 × 6) /( x × 8) ] = (7/6) Or, [(7000 × 6) /(x) ] = (7/6) Or, x = 7000 × 6 × (6/7) So, x = 36,000 So, the sum invested by 'C' = 56000 - x = Rs.20,000

    Practice Next

    Relevant for Exams: