Multiple choice

Directions: In the following problem, you have to find out which statements is/are necessary for determining the correct answer of the question asked. What is the share of Sumit in the profit after the end of December 1998? I. He has invested Rs. 35,000 after 5 months of investing the money by Prakash. II. Prakash has started business by investing Rs. 30,000 in February 1998. III. Prakash got a profit of Rs. 4400.

  1. All I, II and III

  2. Any one of them

  3. Either I and II or III

  4. None of the three statements

  5. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

To find Sumit's share, we need the investment amounts, the time periods of investment, and the total profit. Statement I gives Sumit's investment time relative to Prakash. Statement II gives Prakash's investment amount and start date. Statement III gives the total profit. All three are required to calculate the ratio of investments over time.

AI explanation

To determine Sumit's share, we must know the profit ratio, which requires finding the ratio of the product of investment and time for both partners. Statement I provides Sumit's investment and that he entered after 5 months, while statement II provides Prakash's investment and starting month, allowing the time periods to be calculated. Statement III provides the total profit amount, which is necessary to calculate the actual monetary value of Sumit's share from the established ratio. Therefore, all three statements are necessary to determine the correct answer. The correct answer is All I, II and III.

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