A & B purchased a piece of land for Rs. $20, 000$ and sold it for Rs $60, 000$ in $2015$ . Originally A had contributed Rs $12, 000$ and B Rs $8, 000$ . What will be the profit on venture?

40, 000

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20, 000

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60, 000

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Nil

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Solution

The correct option is C Rs $40, 000$
Proceeds from sale of land = Rs. 60,000
Cost of land = Rs. 20,000
Profit on sale/ venture = Sale value - Cost = Rs. 60,000 - Rs. 20,000 = Rs. 40,000

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A & B purchased a piece of land for Rs.20,000 and sold it for Rs60,000 in 2015. Originally A had contributed Rs12,000 and B Rs8,000. What will be the profit on venture?

The correct option is C Rs40,000Proceeds from sale of land = Rs. 60,000Cost of land = Rs. 20,000Profit on sale/ venture = Sale value - Cost = Rs. 60,000 - Rs. 20,000 = Rs. 40,000

A & B purchased a piece of land for Rs. $20, 000$ and sold it for Rs $60, 000$ in $2015$ . Originally A had contributed Rs $12, 000$ and B Rs $8, 000$ . What will be the profit on venture?

The correct option is C Rs $40, 000$
Proceeds from sale of land = Rs. 60,000
Cost of land = Rs. 20,000
Profit on sale/ venture = Sale value - Cost = Rs. 60,000 - Rs. 20,000 = Rs. 40,000