Question

X, Y, and Z are partners in a Law Firm. During a particular year X received one-fourth of the profit, Y received one-third of the profit and Z received the remaining Rs. 20,000. How much did Y receive?

1. Rs. 10,000
2. Rs. 12,000
3. Rs. 24,000
4. Rs. 18,000
5. Rs. 16,000

Answer 1

Correct Answer - Option 5 : Rs. 16,000

Given:

Profit received by X = 1/4th

Profit received by Y = 1/3th

Profit received by Z = Rs. 20,000

Calculation:

Profit earned by Z = 1 – (1/3 + 1/4)

⇒ 1 – 7/12

⇒ 5/12

∴ Profit received by Z = Rs. 20,000

⇒ 5/12 = 20,000

∴ 1 = 20,000 × 12/5

⇒ 48000

∴ Profit received by Y = 1/3 × 48000

⇒ Rs. 16000

∴ Y received a profit of Rs. 16,000.