Question
Download Solution PDFPeter started a retail business by investing Rs. 25000. After eight months Sam joined him with a capital of Rs. 30,000. After 2 years they earned a profit of Rs. 18000. What was the share of Peter in the profit?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Peter started a retail business by investing Rs. 25000
After eight months Sam joined him with a capital of Rs 30,000.
After 2 years they earned a profit of Rs 18000
Concept Used:
The ratio of profit is equal to the ratio of the product of capital and time
Calculation:
The time period of Peter = 24 months
The time period of Sam = 16 months
Now,
25000 × 24 : 30000 × 16 = 5 : 4
∴ Peter’s share = (5/9) × 18000 = Rs. 10,000
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