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Banking Exams Exam  >  Banking Exams Questions  >  Ramya, Priya and Piya started a business with... Start Learning for Free
Ramya, Priya and Piya started a business with the investment in the ratio of 7:8:6. Priya invested for 10 months, Ramya invested for 8 months and Piya invested for 16 months. If the difference between the profit earning of highest two people is Rs.4500, then find the total profit of the business?
  • a)
    Rs.65250
  • b)
    Rs.68750
  • c)
    Rs.60800
  • d)
    Rs.64500
  • e)
    None of these
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Ramya, Priya and Piya started a business with the investment in the ra...
Profit ratio of Ramya, Priya and Piya = 7x * 8: 8x * 10: 6x * 16
= 7:10:12
Total profit of the business = (7 + 10 + 12)/(12 – 10) * 4500
= (29/2) * 4500
= Rs.65250
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Community Answer
Ramya, Priya and Piya started a business with the investment in the ra...
Given:
Investment ratio of Ramya, Priya, and Piya = 7:8:6
Investment period of Priya = 10 months
Investment period of Ramya = 8 months
Investment period of Piya = 16 months
Difference in profit earning of highest two people = Rs. 4500

Let's assume the investments of Ramya, Priya, and Piya as R, P, and P respectively.

Investment ratio can be represented as:
R:P:P = 7:8:6

Let the common ratio be x. So,
R = 7x
P = 8x
P = 6x

Investment period can be represented as:
Ramya's investment period = 8 months
Priya's investment period = 10 months
Piya's investment period = 16 months

Profit earned is directly proportional to the product of investment and investment period. So, the profit ratio can be represented as:
(7x * 8):(8x * 10):(6x * 16)
=> 56x:80x:96x

Given that the difference in profit earning of highest two people is Rs. 4500, we can form the equation:
80x - 56x = 4500
24x = 4500
x = 4500/24
x = 187.5

Substituting the value of x back into the investment ratio:
R = 7 * 187.5 = 1312.5
P = 8 * 187.5 = 1500
P = 6 * 187.5 = 1125

Total investment = R + P + P = 1312.5 + 1500 + 1125 = Rs. 3937.5

Total profit = (Total investment) * (Total profit earned by highest two people / Sum of profit ratio)
Total profit = 3937.5 * (4500 / (80 + 96))
Total profit = 3937.5 * (4500 / 176)
Total profit = 3937.5 * 25.5682
Total profit = Rs. 100,912.50

Therefore, the total profit of the business is Rs. 100,912.50, which is not given as an option. Hence, the given options are incorrect and the correct answer is not provided.
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Ramya, Priya and Piya started a business with the investment in the ratio of 7:8:6. Priya invested for 10 months, Ramya invested for 8 months and Piya invested for 16 months. If the difference between the profit earning of highest two people is Rs.4500, then find the total profit of the business?a)Rs.65250b)Rs.68750c)Rs.60800d)Rs.64500e)None of theseCorrect answer is option 'A'. Can you explain this answer?
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Ramya, Priya and Piya started a business with the investment in the ratio of 7:8:6. Priya invested for 10 months, Ramya invested for 8 months and Piya invested for 16 months. If the difference between the profit earning of highest two people is Rs.4500, then find the total profit of the business?a)Rs.65250b)Rs.68750c)Rs.60800d)Rs.64500e)None of theseCorrect answer is option 'A'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Ramya, Priya and Piya started a business with the investment in the ratio of 7:8:6. Priya invested for 10 months, Ramya invested for 8 months and Piya invested for 16 months. If the difference between the profit earning of highest two people is Rs.4500, then find the total profit of the business?a)Rs.65250b)Rs.68750c)Rs.60800d)Rs.64500e)None of theseCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ramya, Priya and Piya started a business with the investment in the ratio of 7:8:6. Priya invested for 10 months, Ramya invested for 8 months and Piya invested for 16 months. If the difference between the profit earning of highest two people is Rs.4500, then find the total profit of the business?a)Rs.65250b)Rs.68750c)Rs.60800d)Rs.64500e)None of theseCorrect answer is option 'A'. Can you explain this answer?.
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