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X and Y entered into partnership with Rs. 7000 and Rs. 6000 respectively. After 3 months X withdrew 2/7 of his stock but after 3 months, he puts back 3/5 of what he had withdrawn. The profit at the end of the year is Rs. 726. How much of this should X receive?
- a)Rs. 336
- b)Rs. 366
- c)Rs. 633
- d)Rs. 663
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
X and Y entered into partnership with Rs. 7000 and Rs. 6000 respective...
Amount put by X for first 3 months = Rs. 7000
⇒ Amount put by X for 4th to 6th month = 7000 - (2/7) × 7000 = 7000 - 2000 = Rs. 5000
⇒ Amount put by X for 7th to 12th month = 5000 + (3/5) × 2000 = Rs. 6200
⇒ Amount put by X for whole year = (7000 × 3 + 5000 × 3 + 6200 × 6) = Rs. 73200
Amount put by Y for whole year = 6000 × 12 = Rs. 72000
⇒ Ratio in which the profit would be shared = 732 : 720 = 61 : 60
The profit at the end of the year is Rs. 726
∴ Share of X = (61/121) × 726 = Rs. 366
Most Upvoted Answer
X and Y entered into partnership with Rs. 7000 and Rs. 6000 respective...
Given:
X and Y entered into a partnership with Rs. 7000 and Rs. 6000 respectively.
X withdrew 2/7 of his stock after 3 months.
After 3 months, X puts back 3/5 of what he had withdrawn.
The profit at the end of the year is Rs. 726.
To find:
How much of the profit should X receive?
Solution:
Step 1: Calculate the ratio of investment:
The ratio of investment is given by the amount invested by X and Y, i.e. Rs. 7000 and Rs. 6000 respectively.
Hence, the ratio of investment is 7000:6000, which can be simplified to 7:6.
Step 2: Calculate the share of profit:
Since X and Y contributed to the capital for different durations, we need to calculate their respective shares of profit separately.
Step 2.1: Calculate X's share of profit:
Let's consider X's investment for the entire year. X invested Rs. 7000 for the entire year, so his share of profit for the entire year would be (7000/13000) * 726.
Simplifying this, X's share of profit for the entire year is (7/13) * 726 = Rs. 393.23 (approx.)
Step 2.2: Calculate Y's share of profit:
Y invested Rs. 6000 for the entire year, so his share of profit for the entire year would be (6000/13000) * 726.
Simplifying this, Y's share of profit for the entire year is (6/13) * 726 = Rs. 332.31 (approx.)
Step 3: Calculate X's withdrawal and re-investment:
X withdrew 2/7 of his stock after 3 months, which is (2/7) * 7000 = Rs. 2000.
After 3 months, X puts back 3/5 of what he had withdrawn, which is (3/5) * 2000 = Rs. 1200.
Step 4: Adjust X's share of profit:
Since X withdrew a portion of his investment for 3 months, his share of profit needs to be adjusted accordingly.
X's share of profit for the 3 months when he had withdrawn his stock would be (3/12) * X's share of profit for the entire year = (3/12) * 393.23 = Rs. 98.31 (approx.)
Step 5: Final calculation:
X's final share of profit would be his share of profit for the entire year (Rs. 393.23) minus the adjusted share of profit for the 3 months (Rs. 98.31) plus the amount he put back in (Rs. 1200).
Therefore, X's final share of profit = Rs. (393.23 - 98.31 + 1200) = Rs. 1494.92 (approx.)
Answer:
X should receive Rs. 1494.92 (approx.) of the profit.
Option B is the correct answer.
X and Y entered into a partnership with Rs. 7000 and Rs. 6000 respectively.
X withdrew 2/7 of his stock after 3 months.
After 3 months, X puts back 3/5 of what he had withdrawn.
The profit at the end of the year is Rs. 726.
To find:
How much of the profit should X receive?
Solution:
Step 1: Calculate the ratio of investment:
The ratio of investment is given by the amount invested by X and Y, i.e. Rs. 7000 and Rs. 6000 respectively.
Hence, the ratio of investment is 7000:6000, which can be simplified to 7:6.
Step 2: Calculate the share of profit:
Since X and Y contributed to the capital for different durations, we need to calculate their respective shares of profit separately.
Step 2.1: Calculate X's share of profit:
Let's consider X's investment for the entire year. X invested Rs. 7000 for the entire year, so his share of profit for the entire year would be (7000/13000) * 726.
Simplifying this, X's share of profit for the entire year is (7/13) * 726 = Rs. 393.23 (approx.)
Step 2.2: Calculate Y's share of profit:
Y invested Rs. 6000 for the entire year, so his share of profit for the entire year would be (6000/13000) * 726.
Simplifying this, Y's share of profit for the entire year is (6/13) * 726 = Rs. 332.31 (approx.)
Step 3: Calculate X's withdrawal and re-investment:
X withdrew 2/7 of his stock after 3 months, which is (2/7) * 7000 = Rs. 2000.
After 3 months, X puts back 3/5 of what he had withdrawn, which is (3/5) * 2000 = Rs. 1200.
Step 4: Adjust X's share of profit:
Since X withdrew a portion of his investment for 3 months, his share of profit needs to be adjusted accordingly.
X's share of profit for the 3 months when he had withdrawn his stock would be (3/12) * X's share of profit for the entire year = (3/12) * 393.23 = Rs. 98.31 (approx.)
Step 5: Final calculation:
X's final share of profit would be his share of profit for the entire year (Rs. 393.23) minus the adjusted share of profit for the 3 months (Rs. 98.31) plus the amount he put back in (Rs. 1200).
Therefore, X's final share of profit = Rs. (393.23 - 98.31 + 1200) = Rs. 1494.92 (approx.)
Answer:
X should receive Rs. 1494.92 (approx.) of the profit.
Option B is the correct answer.
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X and Y entered into partnership with Rs. 7000 and Rs. 6000 respectively. After 3 months X withdrew 2/7 of his stock but after 3 months, he puts back 3/5 of what he had withdrawn. The profit at the end of the year is Rs. 726. How much of this should X receive?a)Rs. 336b)Rs. 366c)Rs. 633d)Rs. 663Correct answer is option 'B'. Can you explain this answer?
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X and Y entered into partnership with Rs. 7000 and Rs. 6000 respectively. After 3 months X withdrew 2/7 of his stock but after 3 months, he puts back 3/5 of what he had withdrawn. The profit at the end of the year is Rs. 726. How much of this should X receive?a)Rs. 336b)Rs. 366c)Rs. 633d)Rs. 663Correct answer is option 'B'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about X and Y entered into partnership with Rs. 7000 and Rs. 6000 respectively. After 3 months X withdrew 2/7 of his stock but after 3 months, he puts back 3/5 of what he had withdrawn. The profit at the end of the year is Rs. 726. How much of this should X receive?a)Rs. 336b)Rs. 366c)Rs. 633d)Rs. 663Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X and Y entered into partnership with Rs. 7000 and Rs. 6000 respectively. After 3 months X withdrew 2/7 of his stock but after 3 months, he puts back 3/5 of what he had withdrawn. The profit at the end of the year is Rs. 726. How much of this should X receive?a)Rs. 336b)Rs. 366c)Rs. 633d)Rs. 663Correct answer is option 'B'. Can you explain this answer?.
X and Y entered into partnership with Rs. 7000 and Rs. 6000 respectively. After 3 months X withdrew 2/7 of his stock but after 3 months, he puts back 3/5 of what he had withdrawn. The profit at the end of the year is Rs. 726. How much of this should X receive?a)Rs. 336b)Rs. 366c)Rs. 633d)Rs. 663Correct answer is option 'B'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about X and Y entered into partnership with Rs. 7000 and Rs. 6000 respectively. After 3 months X withdrew 2/7 of his stock but after 3 months, he puts back 3/5 of what he had withdrawn. The profit at the end of the year is Rs. 726. How much of this should X receive?a)Rs. 336b)Rs. 366c)Rs. 633d)Rs. 663Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X and Y entered into partnership with Rs. 7000 and Rs. 6000 respectively. After 3 months X withdrew 2/7 of his stock but after 3 months, he puts back 3/5 of what he had withdrawn. The profit at the end of the year is Rs. 726. How much of this should X receive?a)Rs. 336b)Rs. 366c)Rs. 633d)Rs. 663Correct answer is option 'B'. Can you explain this answer?.
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