Question
Download Solution PDFA, B and C start a business by investing Rs. 7,000/-, Rs. 8,000/- and Rs. 12,000/- respectively. After a year, B get Rs. 3,200/- as his share of profit. What is the total profit?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Investment of A = ₹7,000
Investment of B = ₹8,000
Investment of C = ₹12,000
B's share of profit = ₹3,200
Formula used:
B's share of profit = (B's investment / Total investment) × Total profit
Total investment = A's investment + B's investment + C's investment
Calculation:
Total investment = ₹7,000 + ₹8,000 + ₹12,000
⇒ Total investment = ₹27,000
B's share of profit = (₹8,000 / ₹27,000) × Total profit
⇒ ₹3,200 = (₹8,000 / ₹27,000) × Total profit
⇒ Total profit = ₹3,200 × (₹27,000 / ₹8,000)
⇒ Total profit = ₹10,800
∴ The correct answer is option (4).
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