Question

A and B are partners in a business with capitals Rs. 10000 and Rs. 12000 respectively. They will get 5% interest on capital. A will get Rs. 500 per month as manager and the rest of the profit will be divided equally between them. If A gets Rs. 16000 in a certain year, find the total profit of the year.
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Answer 1

Answer:

Rs59000

Step-by-step explanation:

Interest received by A from B = 5% of Rs.10000 = 5% of Rs. 10000 = Rs.500.

Amount received by A per annum for being a working partner = 500 x 12 = Rs.6000

Let 'P' be the part of the remaining profit that A receives as his share.

So,total income of A = (Rs.500 + Rs.6000 + Rs. P )

Total income of B = only his share from the remaining profit = 'P', as  A and B share the remaining profit equally.

 

We know that income of A = Twice the income of B 

So, (2500 + 18000 + P ) = 2(P)

P = 20500

 

Thus, the total profit = 2P + Rs.18000

= 2(20500) + 18000 = Rs.59000.