A construction company is owned by 2 partners X and Y and it is agreed that their profit will be divided in the ratio 4;5. at the end of the year, Y received N5000 more than X. what is the total profit of the company for the year?
Let the total profit of the company be P.
The profit shares of X and Y are 4/9 and 5/9 of P, respectively.
According to the problem, we can write:
5/9 P = 4/9 P + N5000
Subtracting 4/9 P from both sides, we get:
1/9 P = N5000
Multiplying both sides by 9, we get:
P = N45000
Therefore, the total profit of the company for the year is N45000.
Let's assume that the profit for the year is represented by P.
According to the given information, the profit is divided in the ratio 4:5. This means that out of every 9 parts of profit, X will receive 4 parts and Y will receive 5 parts.
So, X's share of the profit can be calculated as 4/9 * P, and Y's share can be calculated as 5/9 * P.
It is also stated that Y received N5000 more than X. Therefore, we can set up the following equation:
5/9 * P = 4/9 * P + N5000
To find the total profit of the company for the year, we need to find the value of P.
By simplifying the equation, we have:
5P/9 = 4P/9 + N5000
Multiplying both sides of the equation by 9, we get:
5P = 4P + 9N5000
Now, subtracting 4P from both sides, we have:
P = 9N5000
Therefore, the total profit of the company for the year is 9 times N5000, which is N45,000.
So, the total profit of the company for the year is N45,000.