Question

Edwin started a business with Rs. $25000$ and after $4$ months, Thomas joined him with Rs. $60000$. Edwin received Rs. $58000$ including $10\%$ of profit as commission for managing the business. What amount did Thomas receive?.

Answer 1

Profit sharing ratio is,

$=25000\times 12:60000\times 8$

$=5:8$

Total profit $100\%$

Edwin got $10\%$ for Managing the business so remaining $90\%$ is shared by both.

Edwin got $10\%$ profit $+\frac{5}{13}\times 90\%$ profit

$\Rightarrow 0.1p+\frac{5}{13}\times 0.9p=58,000$

Then,

$\Rightarrow \frac{5.8p}{13}=58000$

$\Rightarrow p=130000$.

Now Thomas profit is $130000-58000=72000$. Rs.