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A working partner gets 20% as his commission of the profit after his commission is paid. If the working partner's commission is Rs. 8000, then what is the total profit in the business ?
- a)Rs. 47000
- b)Rs. 45000
- c)Rs. 48000
- d)None of these
Correct answer is option 'C'. Can you explain this answer?
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Given:
- The working partner gets 20% as his commission of the profit after his commission is paid.
- The working partner's commission is Rs. 8000.
To find:
- The total profit in the business.
Assumption:
Let the total profit in the business be 'x' Rs.
Solution:
Let's assume the profit before the working partner's commission is paid be 'y' Rs.
The working partner gets 20% as his commission of the profit after his commission is paid, so the remaining profit after his commission is paid will be 80% of y Rs.
The working partner's commission is Rs. 8000, so the remaining profit after his commission is paid will be y - 8000 Rs.
According to the given information, the remaining profit after his commission is paid is 80% of y Rs, so we can write the equation as:
80% of y = y - 8000
Converting the percentage to decimal:
0.8y = y - 8000
Solving the equation:
Subtracting y from both sides of the equation:
0.8y - y = -8000
Combining like terms:
-0.2y = -8000
Dividing both sides of the equation by -0.2:
y = (-8000)/(-0.2)
y = 40000
Therefore, the profit before the working partner's commission is paid is Rs. 40000.
Now, let's find the total profit in the business:
The total profit in the business is the sum of the profit before the working partner's commission is paid and the working partner's commission.
Total profit = profit before commission + commission
Total profit = 40000 + 8000
Total profit = Rs. 48000
Hence, the total profit in the business is Rs. 48000. Therefore, option C is the correct answer.
- The working partner gets 20% as his commission of the profit after his commission is paid.
- The working partner's commission is Rs. 8000.
To find:
- The total profit in the business.
Assumption:
Let the total profit in the business be 'x' Rs.
Solution:
Let's assume the profit before the working partner's commission is paid be 'y' Rs.
The working partner gets 20% as his commission of the profit after his commission is paid, so the remaining profit after his commission is paid will be 80% of y Rs.
The working partner's commission is Rs. 8000, so the remaining profit after his commission is paid will be y - 8000 Rs.
According to the given information, the remaining profit after his commission is paid is 80% of y Rs, so we can write the equation as:
80% of y = y - 8000
Converting the percentage to decimal:
0.8y = y - 8000
Solving the equation:
Subtracting y from both sides of the equation:
0.8y - y = -8000
Combining like terms:
-0.2y = -8000
Dividing both sides of the equation by -0.2:
y = (-8000)/(-0.2)
y = 40000
Therefore, the profit before the working partner's commission is paid is Rs. 40000.
Now, let's find the total profit in the business:
The total profit in the business is the sum of the profit before the working partner's commission is paid and the working partner's commission.
Total profit = profit before commission + commission
Total profit = 40000 + 8000
Total profit = Rs. 48000
Hence, the total profit in the business is Rs. 48000. Therefore, option C is the correct answer.
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A working partner gets 20% as his commission of the profit after his commission is paid. If the working partner's commission is Rs. 8000, then what is the total profit in the business ?a)Rs. 47000b)Rs. 45000c)Rs. 48000d)None of theseCorrect answer is option 'C'. Can you explain this answer?
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A working partner gets 20% as his commission of the profit after his commission is paid. If the working partner's commission is Rs. 8000, then what is the total profit in the business ?a)Rs. 47000b)Rs. 45000c)Rs. 48000d)None of theseCorrect answer is option 'C'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about A working partner gets 20% as his commission of the profit after his commission is paid. If the working partner's commission is Rs. 8000, then what is the total profit in the business ?a)Rs. 47000b)Rs. 45000c)Rs. 48000d)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A working partner gets 20% as his commission of the profit after his commission is paid. If the working partner's commission is Rs. 8000, then what is the total profit in the business ?a)Rs. 47000b)Rs. 45000c)Rs. 48000d)None of theseCorrect answer is option 'C'. Can you explain this answer?.
A working partner gets 20% as his commission of the profit after his commission is paid. If the working partner's commission is Rs. 8000, then what is the total profit in the business ?a)Rs. 47000b)Rs. 45000c)Rs. 48000d)None of theseCorrect answer is option 'C'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about A working partner gets 20% as his commission of the profit after his commission is paid. If the working partner's commission is Rs. 8000, then what is the total profit in the business ?a)Rs. 47000b)Rs. 45000c)Rs. 48000d)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A working partner gets 20% as his commission of the profit after his commission is paid. If the working partner's commission is Rs. 8000, then what is the total profit in the business ?a)Rs. 47000b)Rs. 45000c)Rs. 48000d)None of theseCorrect answer is option 'C'. Can you explain this answer?.
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