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Gautam started a business and Akash joined him after certain months. After how much time from the start did Akash join the business? Statement I: Gautam received Rs. 48000 as the profit out of the total profit of Rs. 64000 at the end of the year. Statement II: The investment done by Akash was Rs. 24000. 

Gautam started a business and Akash joined him after certain months. After how much time from the start did Akash join the business? Statement I: Gautam received Rs. 48000 as the profit out of the total profit of Rs. 64000 at the end of the year. Statement II: The investment done by Akash was Rs. 24000.  Correct Answer Both Statements I and II together are not sufficient to answer the question.

Combining statements I and II:

The investment done by Akash was Rs. 24000

Suppose investment of Gautam is Rs. A

Suppose Akash was in the business for x months.

So,

Ratio in which profit will be shared between Gautam and Akash = (A × 12) : (24000 × x)

Now,

Gautam received Rs. 48000 as the profit out of the total profit of Rs. 64000 at the end of the year.

So,

12A/(12A + 24000x) = 48000/64000

Here, we have 2 variables and 1 equation.

So, we can’t find the values of variables.

∴ Both Statements I and II together are not sufficient to answer the question.

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