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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

A

B

C

D

E

Difficulty:

65% (hard)

Question Stats:

56% (01:55) correct
44% (03:10) wrong based on 39 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.

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

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24 Apr 2013, 13:24

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: 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.

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...

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 ?

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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