Question

P and Q started a business in partnership investing Rs. 20,000 and Rs. 15,000 respectively. After 8 months S joined them with Rs. 20,000. What will be Q's share in the total profit of Rs. 145,000 earned at the end of 2 years from the starting of the business?
1. Rs. 60000
2. Rs. 45000
3. Rs. 72000
4. Rs. 42000
5. None of these

Answer 1

Correct Answer - Option 2 : Rs. 45000

Given:

Investment of P and Q = Rs. 20,000 and Rs. 15,000

After 8 months S joined them with Rs 20,000.

Total Profit after 2 years = Rs. 145,000

Concept used:

Ratio of profit sharing = Ratio of [Investment × Time]

Calculation:

Ratio in which profit will be shared among P, Q and S

⇒ (20000 × 24) : (15000 × 24) : (20000 × 16)

⇒ 12 : 9 : 8

Q's profit amount = (9/29) × Rs. 145,000

⇒ Rs. 45,000

∴ Profit amount of Q is Rs 45,000 .