Huey, Dewey, and Louie invested 63000, 56000, and 84000 respectively to start a business. After one year, the profit is distributed in the ratio of their investments. Of Louie's share of profit is Rs.54000, find the total profit
Question
Huey, Dewey, and Louie invested 63000, 56000, and 84000 respectively to start a business. After one year, the profit is distributed in the ratio of their investments. Of Louie's share of profit is Rs.54000, find the total profit
Solution
Step 1: First, we need to find the ratio of their investments. The ratio of Huey, Dewey, and Louie's investments is 63000:56000:84000.
Step 2: Simplify the ratio by dividing each part by the greatest common divisor. In this case, the greatest common divisor is 7000. So, the simplified ratio is 9:8:12.
Step 3: Now, we know that Louie's share of the profit is Rs.54000. According to the ratio, Louie's part is 12 out of the total parts (9+8+12 = 29 parts).
Step 4: To find the value of each part, divide Louie's share by his part of the ratio. So, each part is worth Rs.54000/12 = Rs.4500.
Step 5: Finally, to find the total profit, multiply the value of each part by the total number of parts. So, the total profit is Rs.4500 * 29 = Rs.130500.
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