Question
Download Solution PDFAvantika started a business with Rs.24,000 and is joined afterwards by Bharatwaj with Rs.36,000. After how many months did Bharatwaj join if the profits at the end of the year are divided equally?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Avantika's investment = Rs.24,000
Bharatwaj's investment = Rs.36,000
Total time = 12 months
Profits are divided equally.
Formula Used:
Profit ratio = (Investment × Time)
Calculation:
Let Bharatwaj join after x months. Then,
Avantika's time = 12 months
Bharatwaj's time = 12 - x months
Profit ratio: Avantika : Bharatwaj = (24000 × 12) : (36000 × (12 - x))
Since profits are divided equally:
(24000 × 12) = (36000 × (12 - x))
⇒ 24000 × 12 = 36000 × (12 - x)
⇒ 288000 = 432000 - 36000x
⇒ 36000x = 432000 - 288000
⇒ 36000x = 144000
⇒ x = 144000 / 36000
⇒ x = 4
After 4 months, Bharatwaj joined the business.
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