Three partners decided to start a business. They decided to donate 10% of the profit to a charity organisation and then the remaining profit would be shared among first, second and third partner in the ratio 1 : 2 : 2. The total profit received was ₹1,80,000. Find the share of the first partner.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. ₹32,400.
Share of first partner = (Remaining Profit) × (Ratio of first partner) / (Sum of Ratios)
Donation to charity = 10% of ₹1,80,000
Donation to charity = ₹1,80,000 × 10/100
Donation to charity = ₹18,000
Remaining profit = Total profit - Donation to charity
Remaining profit = ₹1,80,000 - ₹18,000
Remaining profit = ₹1,62,000
Sum of Ratios = 1 + 2 + 2
Sum of Ratios = 5
Share of first partner = ₹1,62,000 × 1 / 5
Share of first partner = ₹1,62,000 / 5
Share of first partner = ₹32,400