Question

Q7. Hemant, Manoj and Mohit invested in partnership. Hemant invest Rs. 8000 for 3
months, Manoj invest Rs.6000 for 3 months and Mohit invest Rs. 12000 for 2
months. Mohit is working partner so he will get 5% extra of total profit. Find profit
share of Mohit if total profit at the end of the year is Rs 8200.

Answer 1

Given :-

• Hemant invest Rs. 8000 for 3 months.
• Manoj invest Rs.6000 for 3 months.
• Mohit invest Rs. 12000 for 2 months.
• Mohit is working partner so he will get 5% extra of total profit.
• Total profit at the end of the year is Rs 8200.

To Find :-

• Profit share of Mohit . ?

Concept used :-

• working partner gets extra profit from total profit first.
• Rest profit is distributed in the ratio of (Capital * Time period) .

Solution :-

As, we given that, Mohit is working partner so he will get 5% extra of total profit. .

So,

→ Total Profit = Rs.8200

→ for working partner mohit gets = 5% of 8200 = (5 * 8200)/100 = 82 * 5 = Rs.410 .

Than,

→ Profit left to distributed among three of them = 8200 - 410 = Rs.7790 .

Now, we know that,

→ (investment by Hemant * Time period) : (investment by Manoj * Time period) : (investment by Mohit * Time period) = (Profit of Hemant) : (Profit of Manoj) : (Profit of Mohit) .

Putting all values we get :-

→ (8000 * 3) : (6000 * 3) : (12000 * 2) = (Profit of Hemant) : (Profit of Manoj) : (Profit of Mohit) .

→ 24000 : 18000 : 24000 = (Profit of Hemant) : (Profit of Manoj) : (Profit of Mohit) .

→ 24 : 18 : 24 = (Profit of Hemant) : (Profit of Manoj) : (Profit of Mohit) .

→ 4 : 3 : 4 = (Profit of Hemant) : (Profit of Manoj) : (Profit of Mohit) .

Therefore,

→ Profit of Mohit = 4/(4 + 3 + 4) = (4/11) of Remaining Profit.

→ Profit of Mohit = (4/11) * 7790

→ Profit of Mohit = Rs.2832 .72.

Hence,

→ Total Profit of Mohit = 2832.72 + 410 = Rs.3242.72 (Ans.)

∴ Profit share of Mohit is Rs.3242.72 .