Math Problem Statement
A and B started a business and distribute the profit at the end of the year. Both also receive individual salaries from the total profit before the remaining profit is distributed. A's salary is 16% of the remaining profit after paying B's salary. B's salary is 16.67% of the total profit. If A received a total of Rs. 11,000 and the profit-sharing ratio between A and B is 1:2, find the total profit for the year (in thousands of rupees).
Solution
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Math Problem Analysis
Mathematical Concepts
Algebra
Profit Distribution
Percentages
Ratios
Formulas
B's Salary = 0.1667P
A's Salary = 0.16 * (P - 0.1667P) = 0.1333P
Remaining Profit After Salaries = P - (0.1667P + 0.1333P) = 0.7P
A's Share = (1/3) * 0.7P
Total Amount A Received = A's Salary + A's Share
Theorems
-
Suitable Grade Level
Grades 9-11
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