New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    ‘A’ and ‘B’ started a business by investing Rs.

    6000 and Rs. 12000, respectively. 4 months later, ‘C’ joined them with an investment equal to average of initial investment made by ‘A’ and ‘B’ together. If at the end of the year, B’s profit share out of the total profit was Rs. 28,000, then find the profit share of ‘C’.
    A Rs. 10000 Correct Answer Incorrect Answer
    B Rs. 15000 Correct Answer Incorrect Answer
    C Rs. 14550 Correct Answer Incorrect Answer
    D Rs. 14000 Correct Answer Incorrect Answer

    Solution

    ATQ; Amount invested by ‘C’ = [(6000 + 12000)/2] = Rs. 9000 Profit shares of ’A’, ‘B’ and ‘C’, respectively at the end of the year = [(6000 × 12): (12000 × 12):(9000 × 8)] = 1:2:1 Let the total profit received by ‘A’, B’ and ‘C’ at the end of the year be Rs. ‘P’ Profit share of ‘B’ = 28000 = (2/4) × P => P = 28000 × (4/2) = 56000 Profit share of ‘C’ = 56000 × (1/4) = Rs. 14000

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