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Select the correct answerRaj and Mahesh enter into partnership investing RS. 12000 and RS. 15000 respectively. Mahesh was a working partner and got 25% of the profit for his work. What was the total profit, if Raj got RS. 8000 as his share.OptionsRS. 22,000RS. 20,000RS. 30,000RS. 21,500RS. 24,000

Question

Select the correct answerRaj and Mahesh enter into partnership investing RS. 12000 and RS. 15000 respectively. Mahesh was a working partner and got 25% of the profit for his work. What was the total profit, if Raj got RS. 8000 as his share.OptionsRS. 22,000RS. 20,000RS. 30,000RS. 21,500RS. 24,000

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Solution

To solve this problem, we first need to understand that the profit in a partnership is divided according to the ratio of the investments, unless specified otherwise. In this case, Mahesh, as a working partner, gets 25% of the profit for his work. The remaining profit is divided according to their investments.

Step 1: Calculate the ratio of their investments. Raj : Mahesh = 12000 : 15000 = 4 : 5.

Step 2: If Raj got Rs. 8000 as his share, this is 4 parts of the profit (excluding Mahesh's work compensation). Therefore, 1 part of the profit is Rs. 8000 / 4 = Rs. 2000.

Step 3: The total profit (excluding Mahesh's work compensation) is therefore 9 parts (4 parts for Raj and 5 parts for Mahesh) which is 9 * Rs. 2000 = Rs. 18000.

Step 4: However, this is only 75% of the total profit, because Mahesh takes 25% off the top for his work. Therefore, the total profit is Rs. 18000 / 0.75 = Rs. 24000.

So, the correct answer is Rs. 24,000.

This problem has been solved

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