Exams › SSC CGL (Prelims) › General
X and Y invest ₹60,000 and ₹80,000 respectively in a business. After 1 year, the total profit is distributed including simple interest at 8% per annum on the capital of each partner. If the total profit including interest is ₹22,400, what is X's share of the profit?
- ₹ 9,600
- ₹ 9,200
- ₹ 9,800
- ₹ 10,000
Correct answer: ₹ 9,600
Solution
Each partner gets simple interest at 8% on their capital for 1 year. X gets ₹4,800 and Y gets ₹6,400, so total interest is ₹11,200. The remaining profit is ₹22,400 - ₹11,200 = ₹11,200, which is divided in the ratio 60,000:80,000 = 3:4; X's share is ₹4,800 + 3/7 of ₹11,200 = ₹9,600.
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