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Ravi started a business investing $14000. After 3 months, Kamal joined

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Bunuel
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Ravi started a business investing $14000. After 3 months, Kamal joined [#permalink] New post   09 Feb 2021, 04:45
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Ravi started a business investing $14000. After 3 months, Kamal joined with a capital of $16000. If at the end of the year, they earn a profit of $2899, then what will be the share of Kamal in the profit?

(A) $1338
(B) $1350
(C) $1400
(D) $1450
(E) $1800
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A
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Re: Ravi started a business investing $14000. After 3 months, Kamal joined [#permalink] New post   14 Feb 2021, 00:08
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Ratio of which profits are shared depends on the investments made and the time period for which they they are made.

In effect Pa : Pb = Ia x ta : Ib x tb, where t is in months.

Ia = 14000, ta = 12 months, Ib = 16000 and tb = 9 months

Therefore Pa : Pb = 14000 * 12 : 16000 * 9 = 7 : 6


Kamal's share = \(\frac{6}{13} * 2899 = $1338\)


Option A

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Re: Ravi started a business investing $14000. After 3 months, Kamal joined [#permalink] New post   18 Feb 2021, 11:26
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Bunuel wrote:
Ravi started a business investing $14000. After 3 months, Kamal joined with a capital of $16000. If at the end of the year, they earn a profit of $2899, then what will be the share of Kamal in the profit?

(A) $1338
(B) $1350
(C) $1400
(D) $1450
(E) $1800

Solution:

We can create the equations where x = Ravi’s monthly profit and y = Kamal’s monthly profit.

12x + 9y = 2899

and

x/y = 1400/1600

Simplifying the second equation, we have: x = 7y/8. Substituting this into the first equation, we have:

12(7y/8) + 9y = 2899

10.5y + 9y = 2899

19.5y = 2899

y = 148 ⅔

Since Kamal’s annual profit is 9y, his annual profit 9 * 148 ⅔ = $1338.

Answer: A
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Ravi started a business investing $14000. After 3 months, Kamal joined [#permalink] New post   19 Jan 2024, 08:20
Bunuel wrote:
Ravi started a business investing $14000. After 3 months, Kamal joined with a capital of $16000. If at the end of the year, they earn a profit of $2899, then what will be the share of Kamal in the profit?

(A) $1338
(B) $1350
(C) $1400
(D) $1450
(E) $1800

\(\frac{2899(16*9)}{(14*12+16*9)}=\frac{2899*144}{(168+144)} = \frac{2899*144}{312}=1338\), Answer must be (A)
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Ravi started a business investing $14000. After 3 months, Kamal joined [#permalink]
19 Jan 2024, 08:20
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