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

    Question

    'Pawan' and 'Qureshi' initiated a business venture with

    investments in the ratio of 2:3, respectively. After 8 months, 'Rita' became a partner in the business by contributing an amount that was (100/7)% greater than 'Qureshi's investment. After an additional 12 months, 'Qureshi' exited the business. At the conclusion of 2 years, 'Pawan' earned a profit of Rs. 7,000. Determine the difference between the profits received by 'Qureshi' and 'Rita'.
    A Rs.650 Correct Answer Incorrect Answer
    B Rs.600 Correct Answer Incorrect Answer
    C Rs.750 Correct Answer Incorrect Answer
    D Rs.700 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ, Let the initial investment of 'Pawan' and 'Qureshi' be Rs. '14x' and Rs. '21x', respectively Initial investment of 'Rita' = (8/7) × 21x = Rs. '24x' Ratio of profit share of 'Pawan', 'Qureshi' and 'Rita' = (14x × 24) :(21x × 20) :(24x × 16) = 28:35:32 Let the profit share of 'Pawan', 'Qureshi', and 'Rita' be Rs. '28y', Rs. '35y', and Rs. '32y', respectively. Profit share of 'Pawan' = '28y' = 7000 So, y = (7000/28) = 250 Difference between profit share of 'Qureshi' and 'Rita' = 35y 32y = 3y = 3 × 250 = Rs 750

    Practice Next

    Relevant for Exams: