📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    âš¡ Month End Offer - Flat 52% Off On All Courses! Enroll Now âš¡
    00:00:00 AM Left

    Question

    What is the total profit earned by two partners, A and

    B, in a business? Statement I: A and B started a business by investing Rs. 50,000 and Rs. 75,000, respectively. After 6 months, A withdrew Rs. 10,000, and B invested an additional Rs. 25,000. The business ran for 1 year, and the profit was distributed in proportion to their investments. Statement II: The total profit was shared between A and B in the ratio 14:19. B's share of the profit was Rs. 19,000. The question consists of two statements I and II given below it. You have to decide whether the data provided in the statements are sufficient to answer the question or not.
    A Statement I alone is sufficient to answer the question Correct Answer Incorrect Answer
    B Statement II alone is sufficient to answer the question Correct Answer Incorrect Answer
    C Both statements together are necessary to answer the question Correct Answer Incorrect Answer
    D Either statement I alone or statement II alone is sufficient to answer the question Correct Answer Incorrect Answer
    E Both statements together are not sufficient to answer the question Correct Answer Incorrect Answer

    Solution

    Using Statement I, The profit-sharing ratio can be calculated based on the investments of A and B over 12 months.  However, the total profit is not provided, so this statement alone is not sufficient. Using Statement II,  The profit-sharing ratio and B's share of Rs. 19,000 allow us to calculate the total profit.  Since the ratio is 14:19, the total profit is Rs. (19,000 × (14 + 19)) ÷ 19 = Rs. 33,000.  This statement alone is sufficient to answer the question. Answer: B

    Practice Next
    More Data Sufficiency Questions

    Relevant for Exams:

    ask-question