Question

Ram, Vipin and Raju started a business investing capital Rs. 14000, 16000 and 18000 respectively. Ram gets 28% of the total annual income and the remaining profit is distributed among Ram, Vipin and Raju. At the end of the year if Ram gets Rs. 200 less than Vipin and Raju together. Find the total profit.
1. Rs. 12000
2. Rs. 10000
3. Rs. 11000
4. Rs. 8000
5. None of these

Answer 1

Correct Answer - Option 2 : Rs. 10000

Given:

Amount invested by Ram = Rs. 14000

Amount invested by Vipin = Rs. 16000

Amount invested by Raju = Rs. 18000

Ram's profit = (Vipin's profit + Raju's profit) - Rs. 200

Formula used:

Profit = Invested amount × Time

Calculation:

Ratio of profit Ram, Vipin and Raju = (14000 × 1) : (16000 × 1) : (1800 × 1)

⇒ 7 : 8 : 9

Now, the ratio of profit of Ram, Vipin and Raju = 7 : 8 : 9

Let total profit be 100%.

Ram's share in profit = 7 units

Vipin's share in profit = 8 units

Raju's share in profit = 9 units

Total profit = (7 + 8 + 9) units

⇒ 24 units

According to the question,

Ram's share in profit = 28% + (100 - 28)% of (7/24)

⇒ 28% + {72% × (7/24)}

⇒ 28% + 21%

⇒ 49%

Vipin' share in profit = (100 - 28)% of (8/24)

⇒ 72% × (8/24)

⇒ 24%

Raju's share in profit = (100 - 28)% of (9/24)

⇒ 72% × (9/24)

⇒ 27%

Again, According to the question,

49% = (24 + 27)% - Rs. 200

⇒ 49% = 51% - Rs. 200

⇒ 51% - 49% = Rs. 200

⇒ 2% = Rs. 200

⇒ 100% = Rs. 10000

∴ The total profit in the business will be Rs. 10000.