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

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Director
Joined: 27 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, 01:31
00:00

Difficulty:

65% (hard)

Question Stats:

58% (02:03) correct 42% (02:51) wrong based on 42 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, 02:13
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, 12:24
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, 16:17
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, 20:29
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, 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...
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Re: A, B and C jointly thought of engaging themselves in a  [#permalink]

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29 Apr 2013, 22:53
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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29 Apr 2013, 23:01
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, 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 ?
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A, B and C jointly thought of engaging themselves in a  [#permalink]

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24 Apr 2014, 01:48
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, 21:34
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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Joined: 23 Feb 2017
Posts: 59
Re: A, B and C jointly thought of engaging themselves in a business  [#permalink]

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13 Jan 2018, 21:44
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, 21:49
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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Posts: 7212
Re: A, B and C jointly thought of engaging themselves in a business  [#permalink]

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13 Jan 2018, 22:25
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, 22:47
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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13 Jan 2018, 23:27
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 &nbs [#permalink] 13 Jan 2018, 23:27
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