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

    Question

    Three friends, Palak, Shinu, and Riya, joined forces to

    start a partnership business, contributing money in the ratio of 5:4:2, respectively, for a duration of 3 years.Determine Palak's share in the total profit. I. The total investment in the business is Rs. 44,000. II. The total profit at the end of 3 years is 3/8 of the total investment. III. The average amount of profit earned per year is Rs. 5,500. These statements provide information about the investment, total profit, and average annual profit, seeking to find Palak's share in the overall profit.
    A II and III together Correct Answer Incorrect Answer
    B Only II Correct Answer Incorrect Answer
    C I and II together Correct Answer Incorrect Answer
    D I and either II or III Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ, From I and II: Profit = 44000×(3/8) = 16500 Palak’s share = 16500×(5/11) = 7500 Fom III: Total profit = 5500*3 = 16500 Palak’s share = 16500×(5/11) = 7500 So, I and II together and III alone are sufficient.

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