Question

Praveen and naveen started a business with investments of rs 20000 and rs 24000. At the end of the 1 year, the total profit they shared was rs 1000 more than the difference in their profit shares. Find the total profit.

Answer 1

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Use your market research to develop a profile of the customers you are targeting and identify their needs.

Answer 2

Let P1 be the profit share of Praveen.

Let P2 be the profit share of Naveen.

Let TP be the total profit, TP = P1 + P2.

If TP is 1000 more than the difference of the shares, then

P1 + P2 = 1000 + P2 - P1

P1 = Rs.500

For Rs.20000 investment by Praveen, profit share is Rs.500,

therefore, for Rs.24000 investment by Naveen, profit share will be

P2 = 500/20000 * 24000

P2 = Rs. 600

Total profit = P1 + P2 = 500 + 600 = Rs.1100