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X and Y entered a partnership agreement wherein X’s share in business is 2/5th of total worth. They purchased two machineries at Rs. 50,000 each; one was sold at 20% profit and another at 5% loss. What is Y’s share of profit/ loss incurred?1. Profit of Rs 30002. Loss of Rs 30003. Loss of Rs 45004. Profit of Rs 45005. None of the above |
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Answer» Correct Answer - Option 4 : Profit of Rs 4500 Given X’s share = 2/5 C.P. of two machineries = Rs. 50,000 ⇒ Profit = 20%, loss = 5% Formula used: S.P. = C.P. + Gain S.P. = C.P. – Loss Profit% = (Profit/C.P.) × 100 Loss% = (Loss/C.P.) × 100 Calculation: S.P. of machinery 1 ⇒ S.P. = 50,000 + (0.20 × 50,000) ⇒ S.P. = 50,000 + 10,000 ⇒ S.P. = 60,000 S.P. of machinery 2 ⇒ S.P. = 50,000 – (0.05 × 50,000) ⇒ S.P. = 50,000 – 2500 ⇒ S.P. = 47,500 Total S.P. = 60,000 + 47,500 ⇒ Total S.P. = 107,500 ⇒ Total C.P. = 100,000 (∵ 50,000 × 2) ⇒ Profit = 7,500 X’s share = 2/5 ⇒ Y’s share = (1 – (2/5)) ⇒ Y’s share = 3/5 ⇒ Y’s profit = (3/5) × 7500 ⇒ Y’s profit = 4,500 ∴ Profit incurred by Y is Rs 4500 |
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