Partnership Practice Test 3

Question : 21 of 40

Marks: +1, -0

Two partners invested Rs 1,250 and Rs 850 respectively in a business. Both the partners shared 60% of the profit and distributed the rest of 40% as the interest on their capitals. If one partner received Rs 30 more than theother, the total profit is:

Rs 262.50
Rs 622.50
Rs 220.50
None of these

Validate

Solution:

Ratios of capitals of A and B = 1,250 : 850 = 25 : 17
Let the profit = x
Profit shared by the partner

= 60/100×x =3/5x

Remaining share

= 2/5x

If one partner received Rs 30 more than the other then,

25/42×3/5x-17/42×3/5x=30

{25x-17x}/70=30

x = Rs 262.5

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