In the year 2019, R has invested for six months only while Q and P invested for the whole year. Find the total profit earned during the year 2019.
Understand the Problem
The question is focused on calculating the total profit earned by business partners R for the year 2019, based on the profit data provided and the terms of investment mentioned. We need to analyze the data in the table and make calculations based on the information given about their investment durations.
Answer
R earned $19200$ during the year 2019.
Answer for screen readers
R earned a profit of $19200$ during the year 2019.
Steps to Solve
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Identify Profit Data for 2019 From the table, we know the profit earned by P in 2019 is $6400$, while the profits for R and Q are missing.
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Understand R's Investment Duration R invested for $6$ months in the year 2019, while P and Q are assumed to have invested the entire year (12 months).
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Apply the Profit Sharing Rule The profit is generally shared in the ratio of the product of capital invested and the duration of investment.
Let:
- R's capital = $R_c$
- P's capital = $6400$ (since this is their profit for the year),
- Q's capital = $Q_c$
Since R only invested for $6$ months:
- Effective investment ratio for R = $R_c \times 6$
- Effective investment ratio for P = $6400 \times 12$
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Determine Capital of P Keeping the investments proportional, we equate the total profit distribution:
$$ P_{\text{total}} = P + R + Q = 6400 + R + Q = 19200 $$
Here, we can substitute R's profit contribution based on the ratios.
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Calculate Total Profit and Determine R's Contribution in 2019 Set up the profit equations:
$$ R_{\text{profit}} = \text{Proportion of Profit} \times (6400 + R + Q) $$
Calculate R's share to find the final profit earned by R:
$$ \text{Total Profit} = 6400 + \text{R's share} $$
R earned a profit of $19200$ during the year 2019.
More Information
In this scenario, R’s profit earned is based on a proportional investment calculation, considering different durations of capital invested by each partner. The profit earned reflects the amount of capital relative to the duration.
Tips
- Failing to account for the different investment durations properly (assuming all invested for one year).
- Not setting up the correct ratios for profit sharing.
- Ignoring the profit earned by other partners, which contributes to total profit calculation.
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