Ravi and Karan invested ₹1600 and ₹2400 respectively in a business. After 3 months, Neeraj joined with ₹3200. Karan withdrew his capital after 6 months. The total profit at the end of the year was ₹960.
Consider the following statements:
Statement I: The ratio of Neeraj's profit share to Ravi's profit share is 3:2.
Statement II: Karan’s share in the profit is ₹240.

Select the correct answer from the options below:
(a) Only Statement I is correct.
(b) Only Statement II is correct.
(c) Both Statements I and II are correct.
(d) None of the Statements is correct

Question

Ravi and Karan invested ₹1600 and ₹2400 respectively in a business. After 3 months, Neeraj joined with ₹3200. Karan withdrew his capital after 6 months. The total profit at the end of the year was ₹960.
Consider the following statements:
Statement I: The ratio of Neeraj's profit share to Ravi's profit share is 3:2.
Statement II: Karan&rsquo;s share in the profit is ₹240.

Select the correct answer from the options below:
(a) Only Statement I is correct.
(b) Only Statement II is correct.
(c) Both Statements I and II are correct.
(d) None of the Statements is correct

ONLiNE UPSC · Accepted Answer

Capital-time products:
Ravi = ₹1600 &times; 12 = ₹19200
Karan = ₹2400 &times; 6 = ₹14400
Neeraj = ₹3200 &times; 9 = ₹28800
Neeraj&rsquo;s : Ravi&rsquo;s = 28800 : 19200 = 3 : 2 &rarr; Statement I is correct.
Total = 19200 + 14400 + 28800 = 62400
Karan&rsquo;s share = 14400/62400 &times; 960 = ₹221.54 &rarr; Statement II is incorrect.

Hence, option a is correct.

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M Question 1	⏱ 0
Ravi and Karan invested ₹1600 and ₹2400 respectively in a business. After 3 months, Neeraj joined with ₹3200. Karan withdrew his capital after 6 months. The total profit at the end of the year was ₹960. Consider the following statements: Statement I: The ratio of Neeraj's profit share to Ravi's profit share is 3:2. Statement II: Karan’s share in the profit is ₹240. Select the correct answer from the options below: (a) Only Statement I is correct. (b) Only Statement II is correct. (c) Both Statements I and II are correct. (d) None of the Statements is correct