Question
Download Solution PDFRamneek starts a business with ₹1,45,600. After 5 months, Somesh joins him with ₹1,50,400. At the end of the year, in what ratio should they share the profit?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Ramneek's investment = ₹1,45,600
Somesh's investment = ₹1,50,400
Ramneek's investment duration = 12 months
Somesh's investment duration = 7 months
Formula Used:
Ratio of profit sharing = (Investment × Time duration)
Calculation:
Ramneek's share = ₹1,45,600 × 12
⇒ Ramneek's share = 1,45,600 × 12 = 17,47,200
Somesh's share = ₹1,50,400 × 7
⇒ Somesh's share = 1,50,400 × 7 = 10,52,800
Ratio of profit sharing = Ramneek's share : Somesh's share
⇒ Ratio = 17,47,200 : 10,52,800
⇒ Ratio = 1747200 / 10,52,800 : 10,52,800 / 10,52,800
⇒ Ratio = 78 : 47
The ratio in which Ramneek and Somesh should share the profit is 78:47.
Last updated on Jun 2, 2025
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