Ankit invested Rs. 5500 and Raju invested Rs. 6500 for 11 months. Their profit ratio is calculated by multiplying their investment by the time period.
The formula for profit is: Profit = Investment × Time
(1) Profit Ratio Calculation:
Ankit's proportional share: \(5500 \times 11 = 60500\)
Raju's proportional share: \(6500 \times 11 = 71500\)
Profit Ratio = 60500:71500, simplified to 121:143
(2) Total Profit Calculation (let total profit be \(x\)):
Profit distribution based on ratio:
Ankit's profit share = \(\frac{121}{121+143} \times x = \frac{121}{264} \times x\)
Raju's profit share = \(\frac{143}{264} \times x\)
The difference in their profits is \(Rs.680\):
\(\frac{143}{264} \times x - \frac{121}{264} \times x = 680\)
\(\frac{22}{264} \times x = 680\)
\(x = \frac{680 \times 264}{22}\)
\(x = 8160\)
Therefore, the total profit is Rs. 8160.
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