X and Y started a business by investing ₹60,000 and ₹90,000 respectively. After 6 months, X doubled his capital, while Y reduced his capital by ₹30,000. If the total annual profit is ₹62,000, what is Y's share(to the nearest integer)?
Correct Answer :
₹28,182
Solution :
The correct option is ₹28,182.
To find Y's share of the total annual profit, we need to calculate the effective investment of both X and Y over the period of one year (12 months).
Step 1: Calculate X's total investment for 12 months
For the first 6 months, X invested ₹60,000.
After 6 months, X doubled his capital, so his new investment becomes:
This capital remained for the remaining 6 months.
Total effective investment of X for 1 year:
Step 2: Calculate Y's total investment for 12 months
For the first 6 months, Y invested ₹90,000.
After 6 months, Y reduced his capital by ₹30,000, so his new investment becomes:
This capital remained for the remaining 6 months.
Total effective investment of Y for 1 year:
Step 3: Find the ratio of profit sharing between X and Y
Ratio of Investment (X : Y):
Dividing both sides by 1,80,000:
Step 4: Calculate Y's share in the total profit of ₹62,000
Sum of ratio parts = 6 + 5 = 11
Y's Share:
Rounding to the nearest integer, Y's share is ₹28,182.
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