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

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

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New post 24 Apr 2013, 02:31
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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
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Re: Calculate the share of B in the profit. [#permalink]

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

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New post 24 Apr 2013, 13:24
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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.
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Re: A, B and C jointly thought of engaging themselves in a [#permalink]

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

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New post 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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New post 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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New post 30 Apr 2013, 00:01
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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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New post 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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A, B and C jointly thought of engaging themselves in a [#permalink]

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

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New post 13 Jan 2018, 22:34
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
E. Rs. 2700


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

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New post 13 Jan 2018, 22:44
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Ratios of Investments along with time spent = A : B : C
Amount * Time in years = Amount * Months/12 Months
6500*6/12 : 8400*5/12 : 10000*3/12
3250: 3500 : 2500
13 : 14 : 15

A wants to be the working member for which, he was to receive 5% of the profits = 5*7400/100= 370

Total profit = 7400-370 = 7030

B' Share = 14/ (13+14+10) * 7030 = 2660

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

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New post 13 Jan 2018, 22:49
IMO B

I dont know if this is the best way, but this is how I would have solved it.

Since A has to receive 5% of interest, 95% of the remaining interest would be divided among A, B and C.
95% of 7400 = 7030

Amount divided among A,B and C should consider both the amount and the duration of the investment.
Thus it will be divided in the ratio (A:B:C)

6500 * 6 : 8500 * 5 : 10000 * 3
=> 78 : 85 : 60 ---- simplifying the above ratio

Amount that B receives = (85 / 223 ) * 7030
rounding 223 to 225, solving the above would lead 2652
Closest match B
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Re: A, B and C jointly thought of engaging themselves in a business [#permalink]

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New post 13 Jan 2018, 23:25
wishalsp333 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
E. Rs. 2700


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The question must be from indian institute, otherwise $ would be used..

ratio of their investment \(6500*6:8400*5:10000*3 = 65*6:84*5:100*3 = 390:420:300=39:42:30=13:14:10\)
share of B = \(\frac{14}{13+14+10} = \frac{14}{37}\)
5% gone to A, so left profit is 95%

share of B = \(\frac{14}{37}*7400*\frac{95}{100} = \frac{14*200*95}{100}=14*190=2660\)
B
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Re: A, B and C jointly thought of engaging themselves in a business [#permalink]

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New post 13 Jan 2018, 23:47
wishalsp333 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
E. Rs. 2700


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The sooner one realizes this as a ratio proprtion problem the quicker comes the solution..

Investment of A : Investment of B : Investment of C

= 6500 * 6 : 8400 * 5 : 10000*3

= 65*6 : 84*5 : 100*3

= 390 : 420 : 300

= 13 : 14 : 10

Thus, total Investment is 37

So, B's share will be \(\frac{7400}{37}*14\) = 2800

Answer will be (C)

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

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New post 14 Jan 2018, 00:27
wishalsp333 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
E. Rs. 2700


Hit Kudos +1. If you like it.


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Re: A, B and C jointly thought of engaging themselves in a business   [#permalink] 14 Jan 2018, 00:27
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