Question
Download Solution PDFA and B entered into a partnership by investing Rs. x and Rs. (x + 5000) respectively. At the end of the year, the ratio of profit share of A to B is 7: 9. Find the value of 7x?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Investment by A = Rs. x
Investment by B = Rs. (x + 5000)
Profit share ratio of A to B = 7 : 9
Formula used:
Profit share ratio = Investment ratio (since profit is directly proportional to investment)
Calculations:
Let the total profit be P.
The ratio of profit shares of A and B is given as 7:9. So, the profit for A is 7 parts and for B is 9 parts.
The total parts = 7 + 9 = 16 parts.
The profit share of A and B is directly proportional to their investments.
Investment of A / Investment of B = Profit share of A / Profit share of B
So, x / (x + 5000) = 7 / 9
Cross multiplying:
9x = 7(x + 5000)
9x = 7x + 35000
9x - 7x = 35000
2x = 35000
x = 35000 / 2 = 17500
Now, find the value of 7x:
7x = 7 × 17500 = 122500
∴ The value of 7x is Rs. 122500.
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