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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
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60% (01:50) correct 40% (03:11) 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, 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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24 Apr 2013, 13:24
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 longmultiplying 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 longmultiplying 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 longmultiplying 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
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
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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, 22:44
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 = 7400370 = 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 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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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
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