NEW HERE? LEARN MORE
closeclose
Last visit was: 23 Apr 2024, 22:42 It is currently 23 Apr 2024, 22:42
Decision Tracker
My Rewards
New posts
New comers' posts

Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel

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

SORT BY:
Date
Kudos
Tags:
Poor Qualityx      
Find Similar Topics 
Show Tags
Hide Tags
User avatar
prateekbhatt
Director
Director
Joined: 28 Jun 2011
Status:My Thread Master Bschool Threads-->Krannert(Purdue),WP Carey(Arizona),Foster(Uwashngton)
Posts: 769
Own Kudos [?]: 277 [0]
Given Kudos: 57
Send PM
GMAT ToolKit User Reviews Badge
A, B and C jointly thought of engaging themselves in a [#permalink] New post   24 Apr 2013, 02:31
00:00
A
B
C
D
E

Difficulty:

65% (hard)

Question Stats:

55% (02:06) correct 45% (02:45) wrong based on 31 sessions
Hide Show timer Statistics
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

This Question is Locked Due to Poor Quality
Hi there,
The question you've reached has been archived due to not meeting our community quality standards. No more replies are possible here.
Looking for better-quality questions? Check out the 'Similar Questions' block below for a list of similar but high-quality questions.
Want to join other relevant Problem Solving discussions? Visit our Problem Solving (PS) Forum for the most recent and top-quality discussions.
Thank you for understanding, and happy exploring!
ShowHide Answer
Official Answer
B
User avatar
B
mau5
Verbal Forum Moderator
Joined: 10 Oct 2012
Posts: 485
Own Kudos [?]: 3092 [1]
Given Kudos: 141
Send PM
Re: A, B and C jointly thought of engaging themselves in a [#permalink] New post   24 Apr 2013, 03:13
1
Bookmarks
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.
avatar
itsmeabhi99
Intern
Intern
Joined: 14 Feb 2013
Posts: 18
Own Kudos [?]: 7 [1]
Given Kudos: 1
Schools: INSEAD Jan '13 (S) ISB '14
GMAT Date: 05-01-2013
GMAT 1: 720 Q50 V38
Send PM
Re: A, B and C jointly thought of engaging themselves in a [#permalink] New post   24 Apr 2013, 13:24
1
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.
avatar
dave785
Manager
Manager
Joined: 09 Apr 2013
Posts: 161
Own Kudos [?]: 115 [0]
Given Kudos: 40
Location: United States
Concentration: Finance, Economics
Schools: Wharton '16 (D) Duke '16 (S) Booth '16 (D) Anderson '16
GMAT 1: 710 Q44 V44
GMAT 2: 740 Q48 V44
GPA: 3.1
WE:Sales (Mutual Funds and Brokerage)
Send PM
Re: A, B and C jointly thought of engaging themselves in a [#permalink] 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.
User avatar
B
mau5
Verbal Forum Moderator
Joined: 10 Oct 2012
Posts: 485
Own Kudos [?]: 3092 [0]
Given Kudos: 141
Send PM
Re: A, B and C jointly thought of engaging themselves in a [#permalink] 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.
avatar
dave785
Manager
Manager
Joined: 09 Apr 2013
Posts: 161
Own Kudos [?]: 115 [0]
Given Kudos: 40
Location: United States
Concentration: Finance, Economics
Schools: Wharton '16 (D) Duke '16 (S) Booth '16 (D) Anderson '16
GMAT 1: 710 Q44 V44
GMAT 2: 740 Q48 V44
GPA: 3.1
WE:Sales (Mutual Funds and Brokerage)
Send PM
Re: A, B and C jointly thought of engaging themselves in a [#permalink] 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...
User avatar
MzJavert
Manager
Manager
Joined: 22 Apr 2013
Posts: 71
Own Kudos [?]: 56 [0]
Given Kudos: 95
Send PM
Re: A, B and C jointly thought of engaging themselves in a [#permalink] 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.
User avatar
B
mau5
Verbal Forum Moderator
Joined: 10 Oct 2012
Posts: 485
Own Kudos [?]: 3092 [1]
Given Kudos: 141
Send PM
Re: A, B and C jointly thought of engaging themselves in a [#permalink] New post   30 Apr 2013, 00:01
1
Kudos
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
avatar
vishalrastogi
Intern
Intern
Joined: 07 Mar 2013
Posts: 22
Own Kudos [?]: 30 [0]
Given Kudos: 80
Send PM
Re: A, B and C jointly thought of engaging themselves in a [#permalink] 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 ?
User avatar
L
Bunuel
Math Expert
Joined: 02 Sep 2009
Posts: 92883
Own Kudos [?]: 618645 [0]
Given Kudos: 81563
Send PM
CAT Tests Forum Quiz Mode
Re: A, B and C jointly thought of engaging themselves in a [#permalink] New post   24 Apr 2014, 02:48
Expert Reply
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.
User avatar
G
wishalsp333
Manager
Manager
Joined: 18 Jul 2017
Posts: 68
Own Kudos [?]: 123 [0]
Given Kudos: 261
Send PM
Re: A, B and C jointly thought of engaging themselves in a [#permalink] 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


Hit Kudos +1. If you like it.
User avatar
G
mandeey
Manager
Manager
Joined: 23 Feb 2017
Posts: 59
Own Kudos [?]: 152 [1]
Given Kudos: 28
Send PM
GMAT ToolKit User Reviews Badge
Re: A, B and C jointly thought of engaging themselves in a [#permalink] New post   13 Jan 2018, 22:44
1
Kudos
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
avatar
B
anugrahs
Intern
Intern
Joined: 27 Jan 2017
Posts: 16
Own Kudos [?]: 72 [0]
Given Kudos: 9
Send PM
Re: A, B and C jointly thought of engaging themselves in a [#permalink] 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
User avatar
L
chetan2u
RC & DI Moderator
Joined: 02 Aug 2009
Status:Math and DI Expert
Posts: 11161
Own Kudos [?]: 31872 [0]
Given Kudos: 290
Send PM
Reviews Badge
Re: A, B and C jointly thought of engaging themselves in a [#permalink] New post   13 Jan 2018, 23:25
Expert Reply
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
User avatar
L
Abhishek009
Board of Directors
Joined: 11 Jun 2011
Status:QA & VA Forum Moderator
Posts: 6072
Own Kudos [?]: 4689 [0]
Given Kudos: 463
Location: India
GPA: 3.5
WE:Business Development (Commercial Banking)
Send PM
GMAT ToolKit User
Re: A, B and C jointly thought of engaging themselves in a [#permalink] 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


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)
User avatar
L
Bunuel
Math Expert
Joined: 02 Sep 2009
Posts: 92883
Own Kudos [?]: 618645 [0]
Given Kudos: 81563
Send PM
CAT Tests Forum Quiz Mode
Re: A, B and C jointly thought of engaging themselves in a [#permalink] New post   14 Jan 2018, 00:27
Expert Reply
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.

P.S. TOPICS MERGED AND LOCKED.

This Question is Locked Due to Poor Quality
Hi there,
The question you've reached has been archived due to not meeting our community quality standards. No more replies are possible here.
Looking for better-quality questions? Check out the 'Similar Questions' block below for a list of similar but high-quality questions.
Want to join other relevant Problem Solving discussions? Visit our Problem Solving (PS) Forum for the most recent and top-quality discussions.
Thank you for understanding, and happy exploring!
GMAT Club Bot
gmatclubot
Re: A, B and C jointly thought of engaging themselves in a [#permalink]
14 Jan 2018, 00:27
Moderators:
Bunuel
Math Expert
92883 posts
yashikaaggarwal
Senior Moderator - Masters Forum
3137 posts

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne
Main navigation
GMAT Resources
Partners
MBA Resources
www.gmac.com|www.mba.com | | GMAT Club Rules | Terms and Conditions