Question
Amit and Anil started a business together such that
Amit’s investment is Rs. 2,000 more than Anil’s. Anil left the business after 6 months. If the ratio of their profit shares at the end of 12 months is 11:6, find Amit’s investment.Solution
ATQ, Let the investment of Anil be Rs. 'p'.
Investment of Amit = Rs. (p + 2,000)
Ratio of profit shares of Amit and Anil respectively = [(p + 2,000) × 12] : [p × 6]
So, (12p + 24,000) : 6p = 11 : 6
Or, 72p + 1,44,000 = 66p
Or, 6p = 1,44,000
Or, 'p' = 24,000
Therefore, required investment = 24,000 + 2,000 = Rs. 26,000
What is 'Countercyclical Capital Buffer' (CCyB)?Â
What initiative was launched by SIDBI in 2018 to track the current state and expected outlook on the MSME sector?
Regarding the External Benchmark Lending Rate (EBLR) framework, consider the following statements:
1. Banks are free to choose any external bench...
In the context of Asset Reconstruction Companies (ARCs), what does 'SR' stand for?Â
Regarding the 'Right of Set-off', evaluate the following statements:
1. It allows a bank to combine two accounts of the same customer to recover ...
Regarding the Statutory Liquidity Ratio (SLR), consider these statements:
1. SLR is maintained to ensure that banks have liquid assets to meet un...
Regarding 'Prompt Corrective Action' (PCA) framework:
1. PCA applies to both Public and Private sector banks.
2. It is triggered if the Ne...
Under the Insolvency and Bankruptcy Code (IBC), what is the maximum time limit (including extensions) for completing the Corporate Insolvency Resolution...
What is the upper limit of the guarantee cover under the CGTMSE scheme for micro and small enterprises ?
Regarding the SARFAESI Act, 2002, consider these statements:
1. It allows banks to auction properties without the intervention of a court.
Relevant for Exams:
