Join ExamsbookAnswer : 2. "Rs.46400"
K and L start the business, with L investing the total capital of Rs. 40,000 on the condition that K pays L interest @ 8% per annum on his half of the capital. L is a working partner and receives Rs.1200 per month from the total profit and any profit reamaining is equally shared by both of them. At the end of the year, it was found that the income of L is twice that of K. Find the total profit for the year ?5
Q: K and L start the business, with L investing the total capital of Rs. 40,000 on the condition that K pays L interest @ 8% per annum on his half of the capital. L is a working partner and receives Rs.1200 per month from the total profit and any profit reamaining is equally shared by both of them. At the end of the year, it was found that the income of L is twice that of K. Find the total profit for the year ?
- 1Rs.44000false
- 2Rs.46400true
- 3Rs.480800false
- 4Rs.46000false
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Answer : 2. "Rs.46400"
Explanation :
Answer: B) Rs.46400 Explanation: Interest received by L from K = 8% of half of Rs.40,000 ⇒8100×20000=1600 Amount received by L per annum for being a working partner = 1200 x 12 = Rs.14,400 Let 'A' be the part of remaing profit that 'L' receives as his share. Total income of 'K' = only his share from the reamaing profit = 'A', as both share equally. Given income of L = Twice the income of K --> (1600 + 14400 + A ) = 2A --> A= Rs.16000 Thus total profit = 2A + Rs.14,400= 2(16000) + 14400 = 32000 +14400 = Rs.46,400.