Partnership Practice Test 1

Question : 7 of 40

Marks: +1, -0

Rakesh, Rajat and Ramesh started a business each investing Rs 30,000. After 5 months, Rakesh withdrew Rs 4,000, Rajat withdrew Rs 8,000 and Ramesh invested Rs 8,000 more. At the end of the year, a total profit of Rs 66,013 was recorded. Then how much more than Rajat did Rakesh earn the profit?

Rs 3,500
Rs 5,300
Rs 2,700
Rs 1,757
Rs 4,800

Validate

Solution:

Ratio of capitals of Rakesh, Rajat and Ramesh
= (30,000 × 5 + 26,000 × 7) : (30,000 × 5 + 22,000 × 7) : (30,000 × 5 + 38,000 × 7)
= (1,50,000 + 1,82,000) : (1,50,000 + 1,54,000) + (1,50,000 + 2,66,000)
= 3,32,000 : 3,04,000 : 4,16,000
= 83 : 76 : 104
∴ Rakesh’s share = Rs

(66,013×83/263)

= Rs 20,833
Rajat’s share =Rs

(66,013×76/263)

= Rs 19,076
Ramesh’s share = Rs

(66,013×104/263)

= Rs 26,104
Thus, Rakesh earned Rs (20,833 - 19,076) = Rs 1,757 more than Rajat.

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