Question
Download Solution PDFIn a partnership, X invests
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
X invests (1/6)th of the capital for (1/6)th of the time
Y invests (1/3)rd of the capital for (1/3)rd of the time
Z invests the remaining capital for the whole time
Total profit at the end of the year = ₹23,000
Formula used:
Profit share is based on the product of capital invested and time
Calculation:
X's share: (1/6) × (1/6) = 1/36
Y's share: (1/3) × (1/3) = 1/9
Z's share: Remaining capital = 1 - (1/6 + 1/3) = 1 - 1/2 = 1/2
Z's time = 1 year
Z's share: (1/2) × 1 = 1/2
Total shares: 1/36 + 1/9 + 1/2
⇒ Total shares = 1/36 + 4/36 + 18/36 = 23/36
Y's share fraction = (1/9) / (23/36)
⇒ Y's share = (1/9) × (36/23) = 4/23
Total profit = ₹23,000
Y's share in profit = (4/23) × 23,000
⇒ Y's share = ₹4,000
∴ The correct answer is option (1).
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