# P and q enter into joint venture and purchase an old house for \$250,000. Each one of them contributing \$125,000...

84 views

P and Q enter into joint venture and purchase an old house for \$250,000. Each one of them contributing \$125,000. For an agreed fee of \$8000 P is to manage the disposal for the property. P pays 5000 for demolishing the house. The material house was sold for 15000\$ by phone and incurred expenses 3500\$. The whole land was sold by people eventually for \$380,000.
If P and Q shares profit equally then what is the profit?

posted Jan 26, 2019

P and Q spent:
\$ 250000+ \$5000+\$3500=\$258500 (they agreed to spend \$8000 but spent \$5000 and additional expense of \$3500)
\$15000+\$380000=\$395000
The difference is the profit:
\$395000-\$258500=\$136500
Each of them got \$136500/2=\$68250

Similar Puzzles

Rohan buys an old bike for Rs. 13500 and spends Rs. 4250 on its repairs.
If he sells the bike for Rs. 27000, what is his gain in percent?

A, B and C jointly thought of engaging themselves in a business venture. It was agreed that A would invest Rs. 6500 for 6 months, B, Rs. 8400 for 5 months and C, Rs. 10,000 for 3 months. A wants to be the working member for which, he was to receive 5% of the profits. The profit earned was Rs. 7400.
Calculate the share of B in the profit?