Two friends P & Q started a business investing amounts in the ratio of 5 : 6. R joined them after seven months investing an amount equal to that of Q’s amount. At the end of the year 23% profit was earned which was equal to Rs. 98,578. What was the amount invested by R?
Solution
Correct Answer: Option B
Let the common multiple be x
∴ The amount invested by P is 5x and by Q is 6x
∴ Annual investment by P is 60x and by Q is 72x
R joined after 7 months with a share of 6x
Thus share by R is 6x for 5 months = 30x
Thus total investment for 1 year = 162x --------(1)
Profit earned = 23%
But 23% profit = 98,578
∴ 23% of total amount = 98,578
∴ total amount = 98,578/0.23
∴ total amount = 4,28,600
Thus from equation (1) we get
162x = 4,28,600
∴ x = 2,645.68
∴ total amount invested by R = 30 × 2,645.68
∴ amount invested by R is Rs.79,370
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