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Jack started a business
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12 Apr 2021, 07:55
12 Apr 2021, 07:55
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Question Stats:
57% (01:56) correct
42% (02:35) wrong based on 7 sessions
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Jack started a business with an investment of $12,000. Two months later, his friend James joined him in the project by investing $16,000. After 3 months of James, Harry also joined them in the same project investing $20,000. After a year from the start of the business, there was a profit of $78,000. What will be the share of each partner in the profit?'
Select all that apply
A. $24,595
B. $25,297
C. $27,835
D. $28,108
E. $28,263
F. $25,570
Kudos for the right answer and explanation
Question part of the project GRE Quantitative Reasoning Daily Challenge - (2021) EDITION
GRE - Math Book
Select all that apply
A. $24,595
B. $25,297
C. $27,835
D. $28,108
E. $28,263
F. $25,570
Kudos for the right answer and explanation
Question part of the project GRE Quantitative Reasoning Daily Challenge - (2021) EDITION
GRE - Math Book
Re: Jack started a business
[#permalink]
12 Apr 2021, 08:08
12 Apr 2021, 08:08
1
Wow! This is a nice question.
Read the stem carefully.
Jack invested 12000 for 12 months
James invested 16000 for 10 months
Harry invested 20000 for 7 months.
So Jack : James : Harry = 12000*12 : 16000*10 : 20000*7
= 144 : 160 : 140
= 36 : 40 : 35
Total profit earned - 78000
Jack's share = \(\frac{36}{111}\)* 78000 = 25297
James' share = \(\frac{40}{111}\)* 78000 = 28108
Harry's share = \(\frac{35}{111}\)* 78000 = 24595
Answer A B D
Read the stem carefully.
Jack invested 12000 for 12 months
James invested 16000 for 10 months
Harry invested 20000 for 7 months.
So Jack : James : Harry = 12000*12 : 16000*10 : 20000*7
= 144 : 160 : 140
= 36 : 40 : 35
Total profit earned - 78000
Jack's share = \(\frac{36}{111}\)* 78000 = 25297
James' share = \(\frac{40}{111}\)* 78000 = 28108
Harry's share = \(\frac{35}{111}\)* 78000 = 24595
Answer A B D
gmatclubot
Re: Jack started a business [#permalink]
12 Apr 2021, 08:08
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