Three partners X, Y and Z started their business by investing ₹40,000, ₹38,000 and ₹30,000, respectively. After 6 months, X and Z made additional investments of ₹20,000 and ₹15,000 respectively, whereas Y withdrew ₹8,000. Find the share of Y (in ₹) in the total profit of ₹38,880 made at the end of the year.
Answer & explanation
Correct answer: option 1
Profit = Amount of Investment × Time of Invest
Investment at the end of the year of X = 40000 × 6 + 60000 × 6 = 240000 + 360000
⇒ 600000
Investment at the end of the year of Y = 38000 × 6 + 30000 × 6 = 228000 + 180000
⇒ 408000
Investment at the end of the year of Z = 30000 × 6 + 45000 × 6 = 180000 + 270000
⇒ 450000
Ratio of profit share ratio = 600000 : 408000 : 450000
⇒ 100 : 68 : 75
Share of Y = 38880 × \(\frac{68}{243}\)
⇒ y = 10880