Aptitude - Partnership - Discussion

Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and

  • Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.
  • Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.
  • Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.
  • Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.
  • Give answer(E) if the data in both Statements I and II together are necessary to answer the question.

1. 

Ravi, Gagan and Nitin are running a business firm in partnership. What is Gagan's share in the profit earned by them?

I. 

Ravi, Gagan and Nitin invested the amounts in the ratio of 2 : 4 : 7.

 II. 

Nitin's share in the profit is Rs. 8750.

[A]. I alone sufficient while II alone not sufficient to answer
[B]. II alone sufficient while I alone not sufficient to answer
[C]. Either I or II alone sufficient to answer
[D]. Both I and II are not sufficient to answer
[E]. Both I and II are necessary to answer

Answer: Option E

Explanation:

Let us name Ravi, Gagan and Nitin by R, G and N respectively.

 I. R : G : N = 2 : 4 : 7.

II. N = 8750..

From I and II, we get:

When N = 7, then G = 4.

When N = 8750, then G = 4 x 8750 = 5000.
7

Thus, both I and II are needed to get the answer.

Correct answer is (E).


Nani said: (Apr 28, 2012)  
Can you explain in detail. How you take 4/7?

Narendra said: (Sep 5, 2012)  
The time period is not given, so how can we divide the profit only in amount ratio ?

Bumba said: (Sep 6, 2013)  
Here said that "Ravi, Gagan and Nitin invested the amounts in the ratio". But no time is given. So how we can calculate the actual amount which will be (invested amount * time)?

So we can not say that 4x=8750. Where x is common factor?

Ravish said: (Jan 21, 2014)  
Where is it mentioned about the time period in which they invested?

Sush said: (Feb 15, 2014)  
Total investment amount is not given from where we can extract G shares.

Alok said: (Mar 16, 2015)  
Nowhere it is mentioned that the profit should be divided in capital ratio.

Manish said: (Jun 1, 2015)  
Can you please explain me? Here time is not given then how can we find the profit ratio?

Abhinesh said: (Jun 4, 2015)  
Time is not use in case of profit because no relation in time.

Raj said: (Dec 2, 2015)  
Duration of investment is not clearly mentioned in question.

Kanika said: (Mar 29, 2017)  
Here, the Duration is not mentioned. Shouldn't the answer be D?

Kalyan said: (Mar 30, 2017)  
Please give the clarity of the answer with explanation.

Tejas said: (Dec 22, 2017)  
I guess the ratio of investment of Ravi, Gagan and Nitin are 2:4:7.

If we take any 1 person ration to the other.

Eg: Ravi and "Nitin" (as his profit is known).

The ratio of investment is 2:7.

In so R/N= 2/7.
Profit ratio will be x:8750.
Cross multiplying x = 2*8750/4.
4375.

So both data is required to calculate.

Prasanth said: (Jun 3, 2018)  
It's not (4/7)*8750.
(4/13) * 8750 is correct.

Kashmi said: (Aug 2, 2018)  
In my opinion, the answer is justified as the ratio 2:7
So the law of investment and the rule of solving is clear.
the ratio and multiplication is right.
8750, then G = 4/7 x 8750 = 5000.

Heena said: (Aug 14, 2018)  
The time duration of investment is missing, so how you can divide the profit in capital ratio? Please explain to me.

Anuj said: (Aug 16, 2018)  
The time period is not given, when who joins, so can't determine.

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