P and Q starts a business with investment of Rs. 28000 and Rs. 42000 respectively. P invests for 8 months and Q invests for one year. If the total profit at the end of the year is Rs. 21125, then what is the share of P?
ARs. 12625
BRs. 14625
CRs. 6500
DRs. 8750
Answer:
D. Rs. 8750
Read Explanation:
Solution:
GIVEN:
Money invested by P is Rs. 28000 per month and he has invested for 8 months.
Money invested by Q is Rs. 42000 per month and he has invested for 12 months.
CONCEPT:
In this type of questions, the profit ratio among the persons is the same as that of the ratio of their capital investment. So we will find the ratio of capital investment, which will be the same as the profit ratio and since we know the total profit and profit ratio, we can find the individual profit.
FORMULA USED:
Profit made by A = (Amount of money invested by A × Total profit) / Total money invested by A and B together)
CALCULATION:
Total money invested by A = 28000 × 8 = 224000
Total money invested by A and B together = 28000 × 8 + 42000 × 12 = 728000
Profit made by A = (224000 × 21125) / 728000 = 6500
∴ The profit made by A is Rs. 6500.
