Question
'A' and 'B' started a business with initial investments
in the ratio 4:7. After six months, 'C' joined the business with an investment of Rs. 4,000. At the end of the year, the profit shares of 'A' and 'C' were in the ratio of 2:1, and 'B's profit was Rs. 3,000 more than 'C's profit. What was the total profit earned from the business at the end of the year?Solution
Let the sum invested by 'A' and 'B' be Rs. '4x' and Rs. '7x', respectively. Ratio of profit shares of 'A', 'B' and 'C' at the end of the year = (4x X 12):(7x X 12):(4000 X 6) = 4x:7x:2000 ATQ: (4x/2000) = (2/1) Or, 4x = 4000 So, x = 1000 So, sum invested by 'B' = 7 X 1000 = Rs. 7,000 Ratio of profit shares of 'A', 'B' and 'C' at the end of the year = (4x X 12):(7x X 12):(4000 X 6) = (4 X 1000):(7 X 1000):2000 = 4:7:2 So, profit earned from the business = 3000 X (13/5) = Rs. 7,800
According to the provisions of the Contract Act, what happens when a proposal is accepted?
The Central Advisory Committee under Food Safety and Standards Act is appointed by
A promissory note or bill of exchange, dated 31st August, 1878, is made payable three months after date. The instrument is at maturity on the
Which jurisprudential principle best supports the concept of "utmost good faith" (Uberrimae fidei) in insurance contracts?
Under which Act is payment system regulation primarily governed in India?
Who is responsible for constituting the High Court Legal Services Committee?
The official language of the Union shall be-
In what situation is the existence of any judgment, order, or decree relevant?
Which of the following emergencies has been declared for the maximum time in India:
With reference to the Transfer of Property Act, 1882. Where the mortgagor binds himself to repay the mortgage money on a certain date and transfer the ...
Relevant for Exams:
