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Joe Biden and Jeff Bezos are two partnership in a business. Joe is an active partner while Joff is a sleeping one. Joe invest $ 5000 and Jeff invest $ 6000. Joe receives 25/2 percent of the profit for managing the business and the rest is divided in proportion to their investment. What does each get out of a profit of $ 880?

Joe Biden and Jeff Bezos are two partnership in a business. Joe is an active partner while Joff is a sleeping one. Joe invest $ 5000 and Jeff invest $ 6000. Joe receives 25/2 percent of the profit for managing the business and the rest is divided in proportion to their investment. What does each get out of a profit of $ 880? Correct Answer $ 460; $ 420

Given∶

Joe invests $ 5000.

Jeff invests $ 6000.

Total profit = $ 880

Formula Used∶

Ratio of their investment = ratio of their profit

Calculation∶

Total profit = $ 880

Joe's share for managing the business, i.e.,

⇒ 25/2 % of 880 = 25/2 × 880/100 = $ 110

The remaining profit of Joe and Jeff as per their investment = 880 - 110 = $ 770

Ratio of amounts = 5000 ∶ 6000 = 5 ∶ 6

Sum of ratios = 5 + 6 = 11

Joe's share = 770 × 5/11 = $ 350

Joe's total share = 350 + 110 = $ 460

Jeff's share = 770 × 6/11 = $ 420.

∴ The correct option is (1).

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