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

    Question

    Together, 'P' and 'Q' invested Rs. 16,000 and Rs. 24,000

    to launch their firm. After 'Q' departed after four months, 'R' joined 'P' by contributing Rs. 4,000 less than 'Q'. Find the total profit made by the firm at the end of the year if, at the beginning of the year, 'R' received a profit of Rs. 7,500. 
    A Rs. 31,200 Correct Answer Incorrect Answer
    B Rs. 11,300 Correct Answer Incorrect Answer
    C Rs. 21,300 Correct Answer Incorrect Answer
    D Rs. 21,000 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ, Amount invested by 'R" = 24000 - 4000 = Rs. 20,000 At the end of the year, profit share of 'P' to 'Q' to that of 'R' = (16000 × 12) :(24000 × 4) :(20000 × 8) = 6:3:5 Let the total profit received by the business at the end of the year be Rs. '14a'. Profit share of 'R' at the end of the year = (5/14) × 14a = 7500 Or, 5a = 7500 So, a = (7500/5) = 1500 So, the total profit received at the end of the year = 14a = 14 × 1500 = Rs. 21,000

    Practice Next

    Relevant for Exams: