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

Question

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.

A. Rs. 1900
B. Rs. 2660
C. Rs. 2800
D. Rs. 2840

mau5 · Answer

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.

itsmeabhi99 · Answer

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.

dave785 · Answer

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.

mau5 · Answer

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.

dave785 · Answer

oh geez, good point. 3 is one of the easiest ones to spot too...

MzJavert · Answer

This probably isn't significant, but it threw me off. What does the Rs. stand for before the amounts invested/profit earned.

mau5 · Answer

Abbreviation for Rupees = Indian Currency

vishalrastogi · Answer

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 ?

Bunuel · Answer

This is not a GMAT question. So, I wouldn't worry about it at all.

TOPIC IS LOCKED.

wishalsp333 · Answer

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.

A. Rs. 1900
B. Rs. 2660
C. Rs. 2800
D. Rs. 2840
E. Rs. 2700

Hit Kudos +1. If you like it.

mandeey · Answer

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

anugrahs · Answer

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

chetan2u · Answer

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

Abhishek009 · Answer

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)

Bunuel · Answer

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.

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

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