A, B and C jointly thought of engaging themselves in a business venture. It was agreed that A would invest Rs. 6500 for 6 months, B, Rs. 8400 for 5 months and C, Rs. 10,000 for 3 months. A wants to be the working member for which, he was to receive 5% of the profits. The profit earned was Rs. 7400. Calculate the share of B in the profit.
Question
A, B and C jointly thought of engaging themselves in a business venture. It was agreed that A would invest Rs. 6500 for 6 months, B, Rs. 8400 for 5 months and C, Rs. 10,000 for 3 months. A wants to be the working member for which, he was to receive 5% of the profits. The profit earned was Rs. 7400. Calculate the share of B in the profit.
Solution
To calculate the share of B in the profit, we need to determine the proportion of B's investment to the total investment and then multiply it by the total profit.
Step 1: Calculate the total investment. Total investment = (A's investment * A's duration) + (B's investment * B's duration) + (C's investment * C's duration) Total investment = (6500 * 6) + (8400 * 5) + (10000 * 3) Total investment = 39000 + 42000 + 30000 Total investment = 111000
Step 2: Calculate B's proportion of the total investment. B's proportion = B's investment / Total investment B's proportion = 8400 / 111000 B's proportion = 0.0757
Step 3: Calculate B's share of the profit. B's share = B's proportion * Total profit B's share = 0.0757 * 7400 B's share = 560.78
Therefore, B's share in the profit is Rs. 560.78.
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