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Quantity I: Two partners P and Q enter into a partnership in the ratio 2:3. They earn a profit of 20% on the total investment, out of which Q gets Rs. 20,000 as profit. Calculate the sum invested by P. Quantity II: A product is sold at successive profits of 10% and 15%. If the cost price of the product is Rs. 10,000, what is the selling price?

1. Quantity I ≥ Quantity II
2. Quantity I > Quantity II
3. Quantity I < Quantity II
4. Quantity I = Quantity II

Correct answer: Quantity I > Quantity II

Solution

Q's profit share is Rs. 20,000, and since profit is shared in the ratio 2:3, Q's share is 3 parts out of 5. So total profit = Rs. 33,333.33 and total investment = Rs. 1,66,666.67; hence P invested Rs. 66,666.67. For Quantity II, selling price = 10000 × 1.10 × 1.15 = Rs. 12,650. Therefore, Quantity I is greater than Quantity II.

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