New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Bittu, Tittu and Mitthu invested Rs. 80000, Rs. 100000

    and Rs. 120000 respectively to start a business . Partnership condition is that, each will get interest on his capital at the rate of 15% per annum and the remaining profit will be divided in the ratio of their capitals. If at the end of the year the total profit is Rs. 59250, then find the share of Mitthu on profit?
    A Rs.19750 Correct Answer Incorrect Answer
    B Rs.20500 Correct Answer Incorrect Answer
    C Rs. 23700 Correct Answer Incorrect Answer
    D Rs. 21250 Correct Answer Incorrect Answer

    Solution

    Interest for Bitttu = (80000×15×1)/100 = 12000 Interest for Tittu = (100000×15×1)/100 = 15000 Interest for Mitthu = (120000×15×1)/100 = 18000 Total interest of (Bittu+tittu+mitthu) = (12000+15000+18000) = 45000 Remaining profit = (59250-45000) = 14250 Bittu : Tittu : Mitthu 80000 : 100000 : 120000 4 : 5 : 6 According to the question, (4+5+6) units = 14250 15 units = 14250 1 unit = 950 Share of mitthu in remaining profit = 950 × 6 = 5700 Total share of Mitthu = 5700+18000 = 23700

    Practice Next

    Relevant for Exams: