Seema 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
Seema 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
Sure, let's break down the problem step by step.
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First, we need to understand that the profit share in a business is directly proportional to the amount of money invested and the time for which it was invested.
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Seema invested 20,000 for 2 years. So, her share in the profit will be proportional to 20,000 * 24 (months) = 480,000.
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Heema joined after 6 months. So, she invested 75,000 for 1.5 years (or 18 months). Her share in the profit will be proportional to 75,000 * 18 = 1,350,000.
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Neema joined after another 6 months. So, she invested 50,000 for 1 year (or 12 months). Her share in the profit will be proportional to 50,000 * 12 = 600,000.
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Now, we need to find the ratio of their shares in the profit. This will be the same as the ratio of the amounts they effectively invested (i.e., investment * time). So, the ratio will be 480,000 : 1,350,000 : 600,000.
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We can simplify this ratio by dividing all the numbers by 10,000. So, the simplified ratio is 48 : 135 : 60.
So, the profits should be shared by Seema, Heema, and Neema in the ratio 48 : 135 : 60 respectively.
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