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?
A
N2,000.00
B
N4,000.00
C
N6,000.00
D
N10,000.00
Verified Correct Answer: A.
Step-by-Step Mathematical Solution
Total amount invested by A and B = N5,000
farm 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
Source: Myschool Past Questions Archive (Record #31811)