Business partnera A, B and C agree to divide their total profit for the year in the ratios 4 : 7 : 8 respectively. If A's share of the profit is Rs. 16,000, what was the total profit of the business partners for the year?

A Rs. 64,000
B Rs. 76,000
C Rs. 30,000
D Rs. 3000,000

Correct Answer: Rs. 76,000

Let the total profit be P. Now, A's share of profit, 4 / (4 + 7 + 8) × P = 16000 or, 4P/19 = 16000 or, P = 16000 × 19 / 4 = 76000 Rs.
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