Select the correct answerSeema started a business investing 20,000. After six months, Heema joined her with 75,000. After another six months, Neema also joined them with 50,000. What should be the ratio in which the profits are shared by the 3 persons respectively at the end of 2 years?
Question
Select the correct answerSeema started a business investing 20,000. After six months, Heema joined her with 75,000. After another six months, Neema also joined them with 50,000. What should be the ratio in which the profits are shared by the 3 persons respectively at the end of 2 years?
Solution
The profit share of a business is usually divided according to the capital invested and the time for which the capital was invested.
- Seema invested 20,000 for 24 months (2 years). So, her share = 20000 * 24 = 480000
- Heema invested 75,000 but only for 18 months (since she joined after 6 months). So, her share = 75000 * 18 = 1350000
- Neema invested 50,000 but only for 12 months (since she joined after 12 months). So, her share = 50000 * 12 = 600000
So, the ratio of their shares should be Seema : Heema : Neema = 480000 : 1350000 : 600000
This simplifies to 8 : 27 : 10.
So, the profits should be shared in the ratio 8:27:10 by Seema, Heema, and Neema respectively.
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