Three friends, X, Y, and Z, invested in a start-up in the ratio 2 : 3 : 5. X managed the business and was entitled to an additional 15% of the total annual profit as a management fee. If the profit at the end of the year was Rs. 4,00,000, how much did Y receive?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Rs. 1,02,000.
Total profit = 400000
Management fee to X = 0.15 × 400000 = 60000
Remaining profit = 400000 - 60000 = 340000
Sum of ratio = 2 + 3 + 5 = 10 parts
Y’s share = (3/10) × 340000 = 102000