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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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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:

59% (02:16) correct 41% (02:51) wrong based on 50 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
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Re: Calculate the share of B in the profit.  [#permalink]

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24 Apr 2013, 03:13
1
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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24 Apr 2013, 13:24
1
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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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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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
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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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.

TOPIC IS LOCKED.
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A, B and C jointly thought of engaging themselves in a business  [#permalink]

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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

Hit Kudos +1. If you like it.
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Posts: 58
Re: A, B and C jointly thought of engaging themselves in a business  [#permalink]

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13 Jan 2018, 22:44
1
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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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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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

Hit Kudos +1. If you like it.

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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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

Hit Kudos +1. If you like it.

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

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

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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.

Note that ONLY Questions from Reliable GMAT Sources are Allowed on the Forum! Please do NOT post questions from random math books and web sites. This question is NOT from Power Prep. Please do not give wrong tags. Thank you.

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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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