New Click Here to Play Diwali Spin and Win and Get Huge Discounts

    Register

    Question

    J, K and L enter into partnership with capital contributions of Rs 30,000, Rs 45,000 and 25,000 respectively. J is the working partner and he gets 30% of the profit for managing the business. The balance profit is distributed in proportion to their capital investments. At the year-end, J gets Rs 400 more than K and L together. Find the share of each?

    A Rs 15000, Rs 9,400, Rs. 5,200 Correct Answer Incorrect Answer
    B Rs 1,2000, Rs 8,700, Rs 2,900 Correct Answer Incorrect Answer
    C Rs 10,200, Rs 6,300, Rs 3,500 Correct Answer Incorrect Answer
    D Rs 18,000, Rs 13,600, Rs 4,400 Correct Answer Incorrect Answer

    Solution

    Profit Sharing Ratio of Partners J:K:L = 6:9:5 (their investment ratio) Let the total profit be = 100 J Share of profit = 30% of 100 + 6/20 of (70% of 100)                                 = 30 + 6/20 × 70 = 51 K and L share of Profit = (100 – J’s Share) = 100 – 51 = 49 Difference (51 - 49) = Rs 400 2 unit = 400 100 unit = 20000 Therefore total profit earned = Rs. 20000 Calculation of each partners share of profit  J’s 30% profit = 20000 × 30% = 6000 Remaining 14000 (20000-6000) will be distributed among all the partners In their respective investment ratio J’s Share = 6000 + 6/20 of 14000 = 10,200 K’s Share = 9/20 of 14000 = 6,300 L’s Share = 5/20 of 14000 = 3,500

    Practice Next

    Relevant for Exams: