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Aptitude - Partnership - Discussion

Discussion Forum : Partnership - Data Sufficiency 1 (Q.No. 1)
Partnership
Directions to Solve

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.

I alone sufficient while II alone not sufficient to answer
II alone sufficient while I alone not sufficient to answer
Either I or II alone sufficient to answer
Both I and II are not sufficient to answer
Both I and II are necessary to answer
Answer: Option
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).

Discussion:
20 comments Page 2 of 2.
Kalyan said:   8 years ago
Please give the clarity of the answer with explanation.
Tejas said:   8 years ago
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:   7 years ago
It's not (4/7)*8750.
(4/13) * 8750 is correct.
Kashmi said:   7 years ago
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.
(1)
Heena said:   7 years ago
The time duration of investment is missing, so how you can divide the profit in capital ratio? Please explain to me.
(1)
Anuj said:   7 years ago
The time period is not given, when who joins, so can't determine.
Amit said:   5 years ago
According to me; Since the time is not given, we are required to consider that all three of them have invested at the same time.
(1)
Parth said:   5 years ago
The time duration for investment is not given.

So, The correct option should be D.
(1)
Karthikeyan said:   5 years ago
R:G:N=2:4:7
Total=2+4+7=13
Let total amount be x,then
N share amount =8750
ie, (N share/total share)*total amt=N share amt.
(7/13)*x = 8750.
x = (13*8750)/7.
x = 16250.

For G share = (4/13) * 16250 = 5000.
Sid said:   1 year ago
I am assuming:

1) All of them invest at the same time
2) Agreed the profit share should be as per the investment ratio.

The question specifically asks: "What is Gagan's share in the profit?". It does not say what is Gagan's profit.

So, logically G's "share" in profit is 2/(2+4+7).
So, The first statement should be sufficient.
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