Select the correct answerLakshmi and Kamala started a business with RS.5 and RS. 6 Lakhs respectively. After 6 months Lakshmi invested RS. 1 Lakh and after one more year kamala withdraws RS. 2 Lakhs. Find the share in the total profit of 26 Lakhs at the end of third year?Options16 Lakhs15 Lakhs26 lakhs14 Lakhs22 Lakhs
Question
Select the correct answerLakshmi and Kamala started a business with RS.5 and RS. 6 Lakhs respectively. After 6 months Lakshmi invested RS. 1 Lakh and after one more year kamala withdraws RS. 2 Lakhs. Find the share in the total profit of 26 Lakhs at the end of third year?Options16 Lakhs15 Lakhs26 lakhs14 Lakhs22 Lakhs
Solution
To solve this problem, we need to calculate the ratio of their investments over the three years.
For the first 6 months, Lakshmi invested 5 lakhs and Kamala invested 6 lakhs.
After 6 months, Lakshmi added 1 lakh to her investment, making it 6 lakhs. So for the next 6 months, Lakshmi invested 6 lakhs and Kamala still invested 6 lakhs.
After one more year (which is 18 months from the start), Kamala withdrew 2 lakhs from her investment, making it 4 lakhs. So for the remaining 18 months, Lakshmi invested 6 lakhs and Kamala invested 4 lakhs.
Now, we calculate the ratio of their investments.
Lakshmi's investment ratio = (5 lakhs x 6 months) + (6 lakhs x 30 months) = 30 lakhs + 180 lakhs = 210 lakhs
Kamala's investment ratio = (6 lakhs x 18 months) + (4 lakhs x 18 months) = 108 lakhs + 72 lakhs = 180 lakhs
So, the ratio of Lakshmi's investment to Kamala's investment is 210:180, which simplifies to 7:6.
The total profit is 26 lakhs.
Lakshmi's share of the profit = (7 / (7+6)) x 26 lakhs = 14 lakhs
So, the correct answer is 14 Lakhs.
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