A and B are two partners in a business.A contributes Rs.1500 for 6 months and B contributes Rs.1000 for 5 months.If the total profit is Rs.500.Find out their shares?Rs.350,Rs.400Rs.321.42,Rs.178.57Rs.450,Rs.387None of these
Question
A and B are two partners in a business.A contributes Rs.1500 for 6 months and B contributes Rs.1000 for 5 months.If the total profit is Rs.500.Find out their shares?Rs.350,Rs.400Rs.321.42,Rs.178.57Rs.450,Rs.387None of these
Solution
The share of profit for a partner in a business is calculated based on the amount of money they invest and the duration for which they invest it. This is often referred to as the "capital-time" product.
Step 1: Calculate the capital-time product for each partner. For A, the capital-time product is Rs.1500 * 6 months = Rs.9000. For B, the capital-time product is Rs.1000 * 5 months = Rs.5000.
Step 2: Calculate the total capital-time product. The total capital-time product is Rs.9000 (for A) + Rs.5000 (for B) = Rs.14000.
Step 3: Calculate each partner's share of the profit. The share of the profit for each partner is their capital-time product divided by the total capital-time product, multiplied by the total profit.
For A, the share of the profit is (Rs.9000 / Rs.14000) * Rs.500 = Rs.321.42 (approximately). For B, the share of the profit is (Rs.5000 / Rs.14000) * Rs.500 = Rs.178.57 (approximately).
So, the shares of A and B in the total profit of Rs.500 are Rs.321.42 and Rs.178.57 respectively.
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