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?Options14 Lakhs16 Lakhs26 lakhs15 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?Options14 Lakhs16 Lakhs26 lakhs15 Lakhs22 Lakhs
Solution
The problem involves calculating the ratio of the investments made by Lakshmi and Kamala over the course of three years, and then dividing the total profit according to that ratio.
Step 1: Calculate the total investment made by each person over the course of three years.
Lakshmi:
- For the first 6 months, she invested Rs. 5 Lakhs.
- For the next 6 months, she invested an additional Rs. 1 Lakh, making her total investment for the first year Rs. 6 Lakhs.
- For the next two years, she continued to invest Rs. 6 Lakhs per year, making her total investment over three years Rs. 18 Lakhs.
Kamala:
- For the first year, she invested Rs. 6 Lakhs.
- For the second year, she withdrew Rs. 2 Lakhs, making her total investment for that year Rs. 4 Lakhs.
- For the third year, she continued to invest Rs. 4 Lakhs, making her total investment over three years Rs. 14 Lakhs.
Step 2: Calculate the ratio of Lakshmi's investment to Kamala's investment.
The ratio is 18:14, which simplifies to 9:7.
Step 3: Divide the total profit according to the investment ratio.
The total profit is Rs. 26 Lakhs, so Lakshmi's share is (9/16)*26 = Rs. 14.625 Lakhs and Kamala's share is (7/16)*26 = Rs. 11.375 Lakhs.
So, the correct answer is not in the options given. Lakshmi's share of the profit would be approximately Rs. 14.625 Lakhs.
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