Question
Billy, Tony and Mike were three workers, employed by a
Contractor. They completed the whole work in 20 days. Initially all of them worked together, but the last 60% of the work was completed by only Tony and Mike together. Billy worked with Tony and Mike only for initial four days then he left the work due to his poor health. Also, Tony takes 25% less time to finish the work alone than that of Mike working alone. If they were paid Rs. 150000 for the entire work, then what is the share of least efficient person?Solution
Initial 4 days [Billy + Tony + Mike (40%)] + Last 16 days [Tony + Mike (60%)] = Total 20 days From the above statement, it is clear that efficiency of Tony and Mike is 60/16 = 3.75% Efficiency of Billy, Tony and Mike is 40/4 = 10%. It means efficiency of Billy alone is (10-3.75) = 6.25% Now, Tony : Mike Number of days 3 : 4 Efficiency 4 : 3 ∴ Efficiency of Tony = 4/7 ×3.75 = 2.14% Efficiency of Mike = 3/7 ×3.75 = 1.61% Thus the least efficient person is Mike Share of work done by Mike= 1.61 × 10 = 16.1% ∴ Mike’s Share of Amount = 16.1% of 150000 = 24150
Which of the following statement is true?
As per the Companies Act, 2013 a Company means_____________
The registered office clause of memorandum of association contains
When you evaluate a company's financial ratios in relation to other companies in the same industry, what type of comparison is this?
A contract is entered into under duress where one party threatened the other with loss of business if the agreement wasn't signed. The other party signs...
A Red Herring Prospectus does not the include information related to __________
ABC Pvt. Ltd. entered into a contract with Mr. Rao for supplying machinery worth ₹25 lakhs. After execution of the contract, Mr. Rao became insolvent ...
What is the minimum number of members required to form a public company?
A Public Company is a company which has a minimum paid-up share capital ____________
Mr. X, a minor, enters into a contract to buy a bike. Later, he refuses to pay. What is the legal position?