Ankit and Raju decided to start a business and they invested ₹5500 and ₹6500 respectively. After 11 months, the difference between their profits is ₹680. Find the total profit.
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → ₹8160
Partners who invest for the same time share the profit in the ratio of their investments. Both invested for the same 11 months, so the months do not change the ratio.
Ratio of profits \(=5500:6500=11:13\)
Difference \(=13-11=2\) parts \(=\) ₹680, so 1 part \(=\) ₹340
Total profit \(=11+13=24\) parts \(=24\times340=\) ₹8160