Question
Download Solution PDFA and B invest in a business in the ratio 3:2. If 5% of the total profit goes to charity and A's share of the profit is Rs. 855, what is the total profit?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Investment ratio of A and B = 3 : 2
Percentage of total profit going to charity = 5%
A's share of the profit = Rs. 855
Calculations:
Let the total profit be 'P' rupees.
Amount given to charity = 5% of P = 0.05P
Remaining profit after charity = P - 0.05P = 0.95P
The remaining profit is divided between A and B in the ratio of their investment, which is 3:2. The sum of the ratio parts is 3 + 2 = 5.
A's share of the remaining profit = (3 / 5) × (0.95P)
We are given that A's share of the profit is Rs. 855. This share is from the profit remaining after the charity deduction.
(3 / 5) × (0.95P) = 855
0.6 × 0.95P = 855
0.57P = 855
P = 855 / 0.57
P = 1500
∴ The total profit is Rs. 1500.
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