Two brothers invested a total of N5,000.00 on a farm project, the farm yield was sold for N 15,000.00 at the end of the season. If the profit was shared in the ratio 2 : 3, what is the difference in the amount to profit received by the brothers?
-
N2,000.00
- N4,000.00
- N6,000.00
- N10,000.00
The correct answer is: A
Explanation
Total amount invested by A and B = N5,000farm yield was sold for N15,000.00
profit = 15,000.00 - 5,000.00
= N10,000.00
Profit was shared in ratio 2 : 3
2 + 3 = 5
A received \(\frac{2}{5}\) of profit = \(\frac{2}{5}\) x 10,000 = N4,000.00
A receive \(\frac{3}{5}\) of profit = \(\frac{3}{5}\) x 10,000 = N6,000.00
Difference in profit received = N6,0000 - N4,000.00
= N2,000.00