Two partner's p and q are into same business. The initial investment was rs. 42000. Later after 6 months q joined the business with rs. 56000. P received rs.62370 as profit including 12% of profit as a token appreciation for managing the business till the end of the year. How much profit did q receive?
Answers
Answer:
30442.5
Step-by-step explanation:
The ratio in which they should share profit is given by :
Investment of P × duration of investment : Investment of q × duration of investment
Investment of P = 42000
Duration of P = 1 year = 12 months
Investment of q = 56000
Duration of investment = 6 months
The ratio is therefore given by:
42000 × 12 : 56000 × 6
We simplify the ratio to get :
P : Q = 3 : 2
Let the profit be x then the shares of P and q can be given as :
P = 3/5x
He also gets an additional of 12% of 3/5x
Commission received by P = 12/100 × 3/5x = 9/125x
Total = 9/125x + 3/5x = 84/125x
Remainder = 125/125x - 84/125x = 41/125x
We have the amount received by P therefore we have :
62370 = 84/125x
x = 62370 × 125/84 = 92812.50
q's share = 92812.50 × 41/125 = 30442.5
Rs 30442.50