A construction company is owned by two 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 N5,000 more than X. What is the total profit of the company for the year?
-
A.
N20, 000 -
B.
N25,000 -
C.
N30,000 -
D.
N15,000 -
E.
N45, 000
Correct Answer: Option E
Explanation
Total sharing ratio is 9
X has 4, Y has 4 + 1
If 1 is N5000
Total profit = 5000 x 9
= N45,000