Multiple choice

Anil started a firm with a capital of Rs. 28,000. After 5 months, Boman joined him and invested Rs. 40,000 in the firm. Chirag was also added as a new partner with an individual investment of Rs. 56,000 after 7 months of commencement. If at the end of the year, the profit of the firm is Rs. 32,000, what is the share (in Rs.) of Boman?

  1. 15,000

  2. 10,000

  3. 20,000

  4. 25,000

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Calculate equivalent capital for 1 year: Anil = 28000 * 12 = 336000. Boman = 40000 * 7 = 280000. Chirag = 56000 * 5 = 280000. Ratio = 336:280:280 = 6:5:5. Boman's share = (5 / 16) * 32000 = 5 * 2000 = 10000.

AI explanation

Using the partnership rule that the profit ratio equals the ratio of investment multiplied by time, the effective investments are Anil at 28000 for 12 months, Boman at 40000 for 7 months and Chirag at 56000 for 5 months. The profit shares are proportional to 336000, 280000 and 280000, giving a ratio of 6 : 5 : 5. Out of the total profit of Rs. 32,000, Boman receives 5 divided by 16 of the amount, resulting in a share of Rs. 10,000.

Keep practicing — related questions