📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    G, L, and M initiated a Construction Materials business

    with investments of Rs. 4500, Rs. 2700, and Rs. 3600, respectively. After 3 months, G and M each added Rs. 900 to their initial investments. At the conclusion of 9 months, L, functioning as a working partner, received a commission of 10% of the profit. The remaining profit was distributed among all three partners based on their investments. If L's total share amounted to Rs. 7260, determine the total profit received by all three partners.
    A Rs.26520 Correct Answer Incorrect Answer
    B Rs.25000 Correct Answer Incorrect Answer
    C Rs.24065 Correct Answer Incorrect Answer
    D Rs.24000 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, Ratio of the profits received G, L and M {(4500 × 3) + (4500 + 900) × 6}:(2700 × 9):{(3600 × 3) + (4500 × 6)}  = 17:9:14 Let the total profit received by G, L and M together be Rs.'a' According to the question, 10% of a + (9/40) × 90% of a = 7260 Or, 0.1a + 0.2025a = 7260 Or, 0.3025a = 7260 Or, a = 7260/0.3025 = 24000 Therefore, total profit received by G, L and M together = Rs.24000

    Practice Next
    More Partnership Questions

    Relevant for Exams:

    ask-question