Indian Institute of Foreign Trade 2010 Solved Paper

Question : 7 of 135

Marks: +1, -0

Shyam, Gopal and Madhur are three partners in a business. Their capitals are respectively Rs 4000,Rs 8000 and Rs 6000. Shyam gets 20% of total profit for managing the business. The remaining profit is divided among the three in the ratio of their capitals. At the end of the year, the profit of Shyam is Rs 2200 less than the sum of the profit of Gopal and Madhur. How much profit, Madhur will get?

Rs.1600
Rs.2400
Rs.3000
Rs.5000

Validate

Solution:

Let the total profit be P. Shyam will get 0.2P for managing the business rest 0.8 P will be divided in the ratio of 2:4:3
i.e. shyam will get

0.2P+0.8P×2/9

and Gopal and Madhur will together get

0.8P×7/9

Given that

0.8P×7/9-(0.2P+0.8P×2/9)=2200

Solving we get P = 9000 therefore profit madhur will get is

0.8×9000×1/3=2400

Therefore our answer is option 'B

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