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Select the correct answerRaj and Mahesh enter into partnership investing RS. 12000 and RS. 15000 respectively. Mahesh was a working partner and got 25% of the profit for his work. What was the total profit, if Raj got RS. 8000 as his share.OptionsRS. 21,500RS. 22,000RS. 30,000RS. 20,000RS. 24,000

Question

Select the correct answerRaj and Mahesh enter into partnership investing RS. 12000 and RS. 15000 respectively. Mahesh was a working partner and got 25% of the profit for his work. What was the total profit, if Raj got RS. 8000 as his share.OptionsRS. 21,500RS. 22,000RS. 30,000RS. 20,000RS. 24,000

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Solution

To solve this problem, we need to understand that the profit in a partnership is divided according to the ratio of the investments, unless specified otherwise. Here, Mahesh is a working partner and gets 25% of the profit for his work. The remaining 75% of the profit is divided according to the ratio of their investments.

Step 1: Calculate the ratio of their investments. Raj : Mahesh = 12000 : 15000 = 4 : 5.

Step 2: If Raj got Rs. 8000 as his share, this is 4 parts of the profit (excluding Mahesh's working partner share). So, 1 part of the profit is 8000 / 4 = Rs. 2000.

Step 3: Therefore, 5 parts of the profit (Mahesh's share excluding his working partner share) is 2000 * 5 = Rs. 10000.

Step 4: The total profit excluding Mahesh's working partner share is 8000 (Raj's share) + 10000 (Mahesh's share) = Rs. 18000.

Step 5: As Mahesh's working partner share is 25% of the total profit, the total profit is 18000 / 75 * 100 = Rs. 24000.

So, the correct answer is Rs. 24,000.

This problem has been solved

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