Question
A and B started a business by investing Rs. 60,000 and Rs. 40,000 respectively. After 6 months, C joined with an investment of Rs. 80,000. If at the end of the year, B’s share of profit is Rs. 24,000, what is the total profit earned by the business?
Solution
ATQ, Investment × time (in months): A: 60,000 × 12 = 7,20,000 B: 40,000 × 12 = 4,80,000 C: 80,000 × 6 = 4,80,000 Ratio of profit shares = 720 : 480 : 480 Divide by 240 → 3 : 2 : 2 Total parts = 3 + 2 + 2 = 7 Let total profit = P B’s share = (2/7) P Given B’s share = 24,000 (2/7) P = 24,000 P = 24,000 × (7/2) = 84,000
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