Math Problem Statement

Aman and Raghav are two friends. Aman started a business with an investment of Rs 7200, while Raghav puts 60% of his salary at 40% p.a simple interest for 6 months; Raghav takes the amount received after 6 months and joins Aman in the business. If Aman receives a profit of Rs. 2000 out of a total profit of Rs. 2900 at the end of 1 year, what was the original salary of Raghav?

Solution

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Math Problem Analysis

Mathematical Concepts

Simple Interest
Ratio and Proportion
Algebra

Formulas

Simple Interest formula: I = (P * r * t) / 100
Profit ratio formula: Aman's Profit / Raghav's Profit = Aman's Investment / Raghav's Investment

Theorems

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Suitable Grade Level

Grades 9-10