Tony and Steve enter into a partnership by investing Rs.14000 and Rs. 16000 respectively. After 8 months, Thor joins them with a capital of Rs.12000. Find the share of Thor in a total profit of Rs. 57000 after 2 years?
Question
Tony and Steve enter into a partnership by investing Rs.14000 and Rs. 16000 respectively. After 8 months, Thor joins them with a capital of Rs.12000. Find the share of Thor in a total profit of Rs. 57000 after 2 years?
Solution
The profit share in a partnership is divided according to the capital invested and the time period for which the capital was invested.
First, we need to calculate the capital for the time period for each person.
For Tony, the capital for the time period is Rs.14000 * 24 months = Rs.336000 For Steve, the capital for the time period is Rs.16000 * 24 months = Rs.384000 For Thor, the capital for the time period is Rs.12000 * 16 months (since Thor joined after 8 months) = Rs.192000
The total capital for the time period is Rs.336000 + Rs.384000 + Rs.192000 = Rs.912000
Now, we can calculate the share of each person in the total profit.
The share of Thor in the total profit is (Thor's capital for the time period / total capital for the time period) * total profit = (Rs.192000 / Rs.912000) * Rs.57000 = Rs.12000
So, Thor's share in the total profit of Rs.57000 after 2 years is Rs.12000.
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