Bittu, Tittu and Mitthu invested Rs. 80000, Rs. 100000 and Rs. 120000 respectively to start a business. Partnership condition is that, each will get interest on his capital at the rate of 15% per annum and the remaining profit will be divided in the ratio of their capitals. If at the end of the year the total profit is Rs. 59250, then find the share of Mitthu on profit?

Solution

Interest for Bitttu = (80000×15×1)/100 = 12000 Interest for Tittu = (100000×15×1)/100 = 15000 Interest for Mitthu = (120000×15×1)/100 = 18000 Total interest of (Bittu+tittu+mitthu) = (12000+15000+18000) = 45000 Remaining profit = (59250-45000) = 14250               Bittu    :Tittu      : Mitthu Capital  80000 :100000   :120000                     4   :5   :6 According to the question, (4+5+6) units = 14250 15 units = 14250 1 unit = 950 Share of mitthu in remaining profit = 950 × 6 = 5700 Total share of Mitthu = 5700+18000 = 23700