Select the correct answerP and Q entered into a partnership with RS. 30,000 and RS. 60,000. After 4 months P invested RS. 15000 more while Q withdraw RS. 30000. Find the share of P in the annual profit of RS. 1,00,000.OptionsRS. 40000RS. 45000RS. 51000RS. 20000RS. 50000
Question
Select the correct answerP and Q entered into a partnership with RS. 30,000 and RS. 60,000. After 4 months P invested RS. 15000 more while Q withdraw RS. 30000. Find the share of P in the annual profit of RS. 1,00,000.OptionsRS. 40000RS. 45000RS. 51000RS. 20000RS. 50000
Solution 1
To solve this problem, we need to calculate the share of P in the annual profit of RS. 1,00,000.
Let's break down the given information step by step:
- P and Q entered into a partnership with RS. 30,000 and RS. 60,000 respectively.
- After 4 months, P invested RS. 15,000 more.
- At the same time, Q withdrew RS. 30,000.
Now, let's calculate the share of P in the annual profit:
- The initial investment of P was RS. 30,000, and the investment of Q was RS. 60,000. So, the ratio of their investments is 1:2.
- After 4 months, P invested an additional RS. 15,000. So, the total investment of P becomes RS. 45,000.
- After 4 months, Q withdrew RS. 30,000. So, the total investment of Q becomes RS. 30,000.
- The total investment of P and Q is now RS. 45,000 + RS. 30,000 = RS. 75,000.
- The remaining 8 months of the year are left for the profit distribution.
To find the share of P in the annual profit, we need to calculate the ratio of P's investment to the total investment:
P's share = (P's investment / Total investment) * Total profit
P's share = (RS. 45,000 / RS. 75,000) * RS. 1,00,000
P's share = (3/5) * RS. 1,00,000
P's share = RS. 60,000
Therefore, the share of P in the annual profit of RS. 1,00,000 is RS. 60,000.
None of the given options match the correct answer.
Solution 2
To solve this problem, we need to calculate the ratio of the capital invested by P and Q throughout the year.
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For the first 4 months, P and Q invested Rs. 30,000 and Rs. 60,000 respectively. So, for these 4 months, the ratio of their investments is 30000:60000 or 1:2.
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After 4 months, P added Rs. 15,000 to his investment making it Rs. 45,000 and Q withdrew Rs. 30,000 from his investment making it Rs. 30,000. So, for the remaining 8 months, the ratio of their investments is 45000:30000 or 3:2.
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To find the annual investment ratio, we need to take into account the time period for which the investments were made. So, for P, it's (14 + 38) = 4 + 24 = 28 and for Q, it's (24 + 28) = 8 + 16 = 24. So, the annual investment ratio of P to Q is 28:24 or 7:6.
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The total annual profit is Rs. 1,00,000. To find P's share, we divide the total profit by the sum of the ratios and then multiply by P's ratio. So, P's share is (1,00,000 / (7+6)) * 7 = Rs. 43,750.
So, none of the options given are correct. P's share of the annual profit is Rs. 43,750.
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