Discussion :: Partnership
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Three friends, P, Q and R started a partnership business investing money in the ratio of 5 : 4 : 2 respectively for a period of 3 years. What is the amount received by P as his share profit?
I. Total amount invested in the business in Rs. 22,000.
II. Profit earned at the end of 3 years is \( \frac {3} {8 } \) of the total investment.
III. The average amount of profit earned per year is Rs. 2750.
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A.
I or II or III |
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B.
Either III only, or I and II together |
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C.
Any two of the three |
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D.
All I, II and III are required. |
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E.
None of these |
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Answer : Option B
Explanation :
I and II give, profit after 3 years = Rs.[\( \frac { 3 } { 8 } \)x22000]= Rs. 8250.
From III also, profit after 3 years = Rs. (2750 x 3) = Rs. 8250.
P's share =Rs.[8250x\( \frac { 5 } { 11} \)]= Rs. 3750.
Thus, (either III is redundant [or] I and II are redundant).
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