Question
P and Q started a venture by investing Rs. 7000 and Rs.
5000 respectively. After 6 months, R joined with an investment equal to the average of P and Q. Meanwhile, P took out 30% of his capital. At the end of the year, they made a total profit of Rs. 21420. Find the share of profit earned by R.Solution
ATQ,
Investment of R = (7000 + 5000)/2 = Rs. 6000
Ratio of investment:
P : Q : R = 7000 : 5000 : 6000 = 7 : 5 : 6
Ratio of profit share:
P : Q : R = (7 × 6 + 4.9 × 6) : (5 × 12) : (6 × 6)
= (42 + 29.4) : 60 : 36
= 71.4 : 60 : 36
Multiply all by 10 to remove decimal:
= 714 : 600 : 360
Simplify by dividing by 6:
= 119 : 100 : 60
Therefore, profit share of R = [60 / (119 + 100 + 60)] × 21420 = (60 / 279) × 21420 = Rs. 4600
Coverage for bodily injury and property damage incurred through ownership or operation of a vehicle is called?
What is a coverage designed to protect businesses from liabilities that arise from the conducting of business over the Internet, including copyright inf...
The Motor Vehicles Act, 1988 requires what document as proof of insurance?
The Insurance Ombudsman was established to:Â
A policy that covers the loss of profits due to damage to machinery is:
 Which of the following government increase the foreign direct investment (FDI) limit in the insurance sector to 74% from 49%?
Nethanna Ku Bima insurance scheme is related which of the following state?
The free-look period is of how many days ?
2000 factories require a Sum Insured of Rs.10 crores each. Statistically, we know that 2 factories get destroyed by fire each year. However, we do not ...
The period during which the owner of a deferred annuity makes payments to build up assets is called?
Relevant for Exams:
