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04 Feb 2021, 06:15
Kudos
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E
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
75%
(hard)
Question Stats:
63% (03:01) correct
37%
(02:58)
wrong
based on 107
sessions
History
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Not Attempted Yet
Seema and Sheetal enter into a partnership with investments in the ratio 3 : 4. After 4 months, Sheetal withdrew one fourth of her capital and Seema withdrew half of her capital. The profit at the end of yearly period was $13,600. The share of Sheetal in this profit is :
(A) $6,000
(B) $6,500
(C) $6,800
(D) $7,000
(E) $8,500
(A) $6,000
(B) $6,500
(C) $6,800
(D) $7,000
(E) $8,500
04 Feb 2021, 06:40
Kudos
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Bunuel
CONCEPT: Ratio of profit = Ratio of investment amount *Time of investment
Sheetal investment \(= (4)*4 + (4*\frac{3}{4})*8 = 40\)
Seema investment \(= (3)*4 + (3*\frac{1}{2})*8 = 24\)
Ratio of profits of sheetal and seema = 40:24 = 5:3
Sheetal Profit = \((\frac{5}{5+3})*13600 = 8500\)
Answer: Option E
13 Feb 2021, 07:22
Kudos
Bookmarks
Bunuel
Solution:
We can let 6x and 8x be the amounts of Seema’s and Sheetal’s investments, respectively. So, after 4 months, Seema’s investment reduces to 3x and Sheetal’s investment reduces to 6x. Let’s introduce a new variable y such that 6y and 8y are Seema and Sheetal’s monthly profit for the first 4 months, respectively, and 3y and 6y are their monthly profit for the remaining 8 months, respectively. We can create the equation:
Seema’s annual profit + Sheetal’s annual profit = 13,600
(6y * 4 + 3y * 8) + (8y * 4 + 6y * 8) = 13,600
48y + 80y = 13,600
128y = 13,600
y = 106.25
Since Sheetal’s annual profit is 80y, her annual profit is 80(106.25) = $8,500.
Answer: E
