Question
In a business there are two partners ‘P’ and
‘Q’. ‘P’ started the business with the capital of Rs. 28000 and after 3 months ‘Q’ joined him with the capital of Rs. 40000. At the end of the year find the profit share of ‘Q’ out of the total profit of Rs. 6960.Solution
Ratio of the profits received by ‘P’ and ‘Q’ (28000 × 12):(40000 × 8) = 14:15 Therefore, profit share of ‘Q’ = 6960 × (15/29) = Rs. 3600
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