EXERCISE 7.3. 1. Faisal and Sirfraz started a business of partnership. Faisal invested Rs. 1000 and Sirfraz invested Rs. 1200 . At the end of a year total profit was Rs. 1430 . Find the shares of Faisal and Sirfraz in profit.
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To find Faisal and Sirfraz's shares in the profit, we first need to determine the total investment. Faisal invested Rs. 1000 and Sirfraz invested Rs. 1200, giving us a combined investment of Rs. 1000 + Rs. 1200 = Rs. 2200. Next, we can find their respective shares in the partnership based on their investments. Faisal's share = Rs. 1000 / Rs. 2200 and Sirfraz's share = Rs. 1200 / Rs. 2200. Now, we calculate the profit share for each. The total profit is Rs. 1430. Faisal's share of the profit = (Faisal's share of total investment) * Total Profit = (1000/2200) * 1430 = Rs. 650. Sirfraz's share of the profit = (Sirfraz's share of total investment) * Total Profit = (1200/2200) * 1430 = Rs. 780. So, Faisal will receive Rs. 650 and Sirfraz will receive Rs. 780 from the profit.