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A, B and C jointly thought of engaging themselves in a [#permalink]
24 Apr 2013, 01:31
00:00
A
B
C
D
E
Difficulty:
65% (hard)
Question Stats:
56% (02:55) correct
44% (03:10) wrong based on 39 sessions
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.
Re: Calculate the share of B in the profit. [#permalink]
24 Apr 2013, 02:13
Expert's post
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.
Re: A, B and C jointly thought of engaging themselves in a [#permalink]
24 Apr 2013, 12:24
1
This post received 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.
Re: A, B and C jointly thought of engaging themselves in a [#permalink]
24 Apr 2013, 20:29
Expert's post
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. _________________
Re: A, B and C jointly thought of engaging themselves in a [#permalink]
24 Apr 2013, 20:56
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...
Re: A, B and C jointly thought of engaging themselves in a [#permalink]
23 Apr 2014, 21:30
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 ?
Re: A, B and C jointly thought of engaging themselves in a [#permalink]
24 Apr 2014, 01:48
Expert's post
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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