Three partners invested Rs. 42000, Rs. 48000 and Rs. 32000 respectively. Partnership condition is that, each will the get interest on his capital at the rate of 7% p.a. 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. 32940, then find the share of A in profit
Rs. 12960
Incorrect AnswerRs. 8640
Incorrect AnswerNone of these
Incorrect AnswerExplanation:
Interest for A = 42000×7×1/100 = Rs. 2940
Interest for B = 48000×7×1/100 = Rs. 3360
Interest for C = 32000×7×1/100 = Rs. 2240
Total interest of (A+B+C) = (2940+3360+2240) = Rs. 8540
Remaining profit = Rs. (32940-8540) = Rs. 24400
A : B : C
Capital→ 42000 : 48000 : 32000
21 : 24 : 16
According to the question,
(21+24+16) units = Rs. 24400
61 units = Rs. 24400
1 units = Rs. 400
Hence, share of A in remaining profit = 400 × 21 = Rs. 8400
Share of B in remaining profit = 400 × 24 = Rs. 9600
Share of C in remaining profit = 400 × 16 = Rs. 6400
∴ Total share of A = 8400 + 2940 = Rs. 11340
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By: Pranav Gupta