Question

A and b purchased a piece of land for rs. 20,000 and sold it for rs.60,000 in 2011 originally a had contributed rs. 12,000 and b rs. 8,000 what will be the profit on venture?

Answer 1

Answer:

Step-by-step explanation:

Purchase cost of land=20000;

Selling price =60000;

Profit=60000-20000=40000;

Contribution ratio of a and b is =$\frac{12000}{8000} =\frac{3}{2}$;

Profit ratio is 3:2;

So a get $(\frac{3}{3+2})$ of 40000;

a get $\frac{3*40000}{5}=24000;$;

b get 40000-24000=16000;