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# A, B and C jointly thought of engaging themselves in a

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Director
Joined: 28 Jun 2011
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Kudos [?]: 212 [0], given: 57

A, B and C jointly thought of engaging themselves in a [#permalink]

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24 Apr 2013, 02:31
00:00

Difficulty:

65% (hard)

Question Stats:

56% (02:55) correct 44% (03:10) wrong based on 39 sessions

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A, B and C jointly thought of engaging themselves in a business venture. It was agreed that A would invest Rs. 6500 for 6 months, B, Rs. 8400 for 5 months and C, Rs. 10,000 for 3 months. A wants to be the working member for which, he was to receive 5% of the profits. The profit earned was Rs. 7400. Calculate the share of B in the profit.

A. Rs. 1900
B. Rs. 2660
C. Rs. 2800
D. Rs. 2840
[Reveal] Spoiler: OA

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Kudos [?]: 1050 [0], given: 136

Re: Calculate the share of B in the profit. [#permalink]

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24 Apr 2013, 03:13
prateekbhatt wrote:
A, B and C jointly thought of engaging themselves in a business venture. It was agreed that A would invest Rs. 6500 for 6 months, B, Rs. 8400 for 5 months and C, Rs. 10,000 for 3 months. A wants to be the working member for which, he was to receive 5% of the profits. The profit earned was Rs. 7400. Calculate the share of B in the profit.

A. Rs. 1900
B. Rs. 2660
C. Rs. 2800
D. Rs. 2840

Total money invested by A,B,C respectively : 6500*6 ; 8400*5 ; 10000*3 = 39000 ; 42000 ; 30000. The split of the profit will done in the ratio of money invested. Thus, the ratio = 13:14:10. Also, the total profit to be split is the amount after giving 5% to A--> 7400*0.95. B's share : $$\frac{14}{37}*7400*0.95$$ = 14*0.95*200 = 2660.

B.
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Kudos [?]: 2 [1] , given: 1

Re: A, B and C jointly thought of engaging themselves in a [#permalink]

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24 Apr 2013, 13:24
1
KUDOS
Where in the question is it written that the split in profit will be according to the investment . I dont think GMAT will leave such an assumption open for test takers.
Manager
Joined: 09 Apr 2013
Posts: 214
Location: United States
Concentration: Finance, Economics
GMAT 1: 710 Q44 V44
GMAT 2: 740 Q48 V44
GPA: 3.1
WE: Sales (Mutual Funds and Brokerage)
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Kudos [?]: 75 [0], given: 40

Re: A, B and C jointly thought of engaging themselves in a [#permalink]

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24 Apr 2013, 17:17
Is there an easy place here to round that I missed? The math on this took me forever and I don't want to be long-multiplying on the GMAT.

I got to $$\frac{42}{111} * \frac{19}{20} * 7400$$

and I got to that point after about a minute fo simplifying... blah.
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Re: A, B and C jointly thought of engaging themselves in a [#permalink]

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24 Apr 2013, 21:29
dave785 wrote:
Is there an easy place here to round that I missed? The math on this took me forever and I don't want to be long-multiplying on the GMAT.

I got to $$\frac{42}{111} * \frac{19}{20} * 7400$$

and I got to that point after about a minute of simplifying... blah.

You should realize that you can still factor out 3 from$$\frac{42}{111}$$, and that will give you $$\frac{14}{37}$$.Also, 37*2 = 74.So, you end up with $$14*\frac{19}{20}*200$$= 190*14 = 19*14*10. The only option with a 6 in the tens digit is B.
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Kudos [?]: 75 [0], given: 40

Re: A, B and C jointly thought of engaging themselves in a [#permalink]

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24 Apr 2013, 21:56
vinaymimani wrote:
dave785 wrote:
Is there an easy place here to round that I missed? The math on this took me forever and I don't want to be long-multiplying on the GMAT.

I got to $$\frac{42}{111} * \frac{19}{20} * 7400$$

and I got to that point after about a minute of simplifying... blah.

You should realize that you can still factor out 3 from$$\frac{42}{111}$$, and that will give you $$\frac{14}{37}$$.Also, 37*2 = 74.So, you end up with $$14*\frac{19}{20}*200$$= 190*14 = 19*14*10. The only option with a 6 in the tens digit is B.

oh geez, good point. 3 is one of the easiest ones to spot too...
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Re: A, B and C jointly thought of engaging themselves in a [#permalink]

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29 Apr 2013, 23:53
This probably isn't significant, but it threw me off. What does the Rs. stand for before the amounts invested/profit earned.
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Re: A, B and C jointly thought of engaging themselves in a [#permalink]

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30 Apr 2013, 00:01
1
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MzJavert wrote:
This probably isn't significant, but it threw me off. What does the Rs. stand for before the amounts invested/profit earned.

Abbreviation for Rupees = Indian Currency
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Re: A, B and C jointly thought of engaging themselves in a [#permalink]

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23 Apr 2014, 22:30
prateekbhatt wrote:
A, B and C jointly thought of engaging themselves in a business venture. It was agreed that A would invest Rs. 6500 for 6 months, B, Rs. 8400 for 5 months and C, Rs. 10,000 for 3 months. A wants to be the working member for which, he was to receive 5% of the profits. The profit earned was Rs. 7400. Calculate the share of B in the profit.

A. Rs. 1900
B. Rs. 2660
C. Rs. 2800
D. Rs. 2840

Hi Bunuel,

can you shed some light on this one ? How can we presume that profit is to be split after taking off 5% for A ? Does this type of question appear in GMAT ?
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Re: A, B and C jointly thought of engaging themselves in a [#permalink]

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24 Apr 2014, 02:48
vishalrastogi wrote:
prateekbhatt wrote:
A, B and C jointly thought of engaging themselves in a business venture. It was agreed that A would invest Rs. 6500 for 6 months, B, Rs. 8400 for 5 months and C, Rs. 10,000 for 3 months. A wants to be the working member for which, he was to receive 5% of the profits. The profit earned was Rs. 7400. Calculate the share of B in the profit.

A. Rs. 1900
B. Rs. 2660
C. Rs. 2800
D. Rs. 2840

Hi Bunuel,

can you shed some light on this one ? How can we presume that profit is to be split after taking off 5% for A ? Does this type of question appear in GMAT ?

This is not a GMAT question. So, I wouldn't worry about it at all.
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Re: A, B and C jointly thought of engaging themselves in a   [#permalink] 24 Apr 2014, 02:48
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