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Ram and Shyam enter into a partnership. Ram supplies whole of the capital amounting to Rs. 60,000 with the condition that the profits are to be equally divided and that Shyam pays Ram interest on half of the capital at 10% per annum, but receives Rs. 150 per month for carrying on the concern. Find their total yearly profit when Shyam’s income is half of Ram’s income.

Ram and Shyam enter into a partnership. Ram supplies whole of the capital amounting to Rs. 60,000 with the condition that the profits are to be equally divided and that Shyam pays Ram interest on half of the capital at 10% per annum, but receives Rs. 150 per month for carrying on the concern. Find their total yearly profit when Shyam’s income is half of Ram’s income. Correct Answer Rs. 12,600

Given:

Capital amount of Ram = Rs. 60,000

Rate of interest for Shyam = 10% per annum

Amount received for carrying on the concern = Rs. 150

Formula used:

Simple Interest = (Principal × Rate × Time)/100

Where, Simple interest = SI, Principal = P, Rate = R, Time = T

Calculation:

Amount received by Shyam (Total profit) for carrying on the concern = Rs. 150 × 12

⇒ Rs. 1,800

Amount received by Ram (from Shyam) as interest = (30000 × 10 × 1)/100

⇒ Rs. 3,000

Now, 

Let Ram and Shyam gets Rs. x as share of the profit

So, Total profit = (2x + 1800)

Ram's total income in the year = (x + 3000)

Shyam's total income in the year = (x + 1800 - 3000)

⇒ (x - 1200)

According to the question

2(x - 1200) = (x + 3000)

⇒ 2x - 2400 = x + 3000

⇒ x = Rs. 5,400

Total yearly profit = (2x + 1800)

⇒ (2 × 5400 + 1800)

⇒ Rs. 12,600

∴ The total yearly profit is Rs. 12,600.

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